Minister Zhamishev reports on utilization of government external loans
ASTANA. April 8. KAZINFORM /Muratbek Makulbekov/ Today at the plenary session of the Majilis Minister of Finances Bolat Zhamishev submitted the deputies a report on targeted and efficient use of the borrowed funds raised by the Government in 2000-2008 as per the agreements with international financial institutions ratified by the Parliament, Kazinform reports. Over the years of independence Kazakhstan has entered into agreements on government external loans to the amount of USD 4,5 bln. USD 3,7 bln of that amount had been utilized before January 1, 2009. The principal debt was liquidated in the amount of USD 2,1 bln, with USD 1,6 bln still remaining due. 44 investment projects within government external borrowings had been under implementation during 2000-2008. The amount of the funds raised for those purposes was USD 2.4 bln. USD 1.27 bln were utilized for that period. “The biggest part of the borrowed funds - USD 2.5 bln - falls on 1990s . In late 1990s the country raised borrowings primarily to cover the budget deficit. Since 2000 external loans have been used for realization of investment projects in agriculture, transport, education, healthcare, social sphere, water supply, ecology and support of small and medium businesses”, B. Zhamishev noted.