Kazakhstan To Borrow Nearly Half A Trillion Tenge To Cover Budget Deficit
Photo: Orda.kz / Olga Ibraeva
Kazakhstan will borrow nearly half a trillion tenge from two international financial institutions to cover the national budget deficit, Orda.kz reports.
Bekbolat Orynbekov, a member of the Senate Committee on Finance and Budget, said Kazakhstan plans to borrow 62.3 billion Japanese yen from the Asian Infrastructure Investment Bank and 92.3 billion Japanese yen from the International Bank for Reconstruction and Development.
The loan funds will make it possible to finance the republican budget deficit for the current year, ensuring that the state fulfills all obligations assumed under the 2026 national budget,Orynbekov said.
According to him, both loans will be issued for 11 years, including a five-year grace period.
The Finance Ministry will service and repay the loans using funds allocated in future national budgets, in line with the terms set out in the loan agreements.
The Senate approved the law ratifying the loan agreement between Kazakhstan and the Asian Infrastructure Investment Bank for financing the Inclusive and Sustainable Economic Growth Program.
Original author: Alina Elgeldina
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