The Ministry of Finance of the Republic of Kazakhstan plans to raise 870 billion tenge to finance the budget deficit.
According to the Kazinform news agency, the placement of government securities is planned for June this year:
- 4 June – 230 billion tenge;
- 11 June – 220 billion tenge;
- 18 June – 240 billion tenge;
- 25 June – 180 billion tenge.
Most of the bonds will be placed with maturities of 1 year, 5 years and 6 years (100 billion tenge each), with plans also for 8-year bonds (90 billion tenge), 2-year, 4-year and 7-year bonds at 80 billion tenge each, 9-year bonds – 60 billion tenge, and 10, 11 and 13-year bonds – 40, 30 and 10 billion tenge respectively.
"Notable events in the debt market include the placement by the Akimat of Pavlodar Region of two-year bonds worth 1.4 billion tenge at 0.35% per annum. As for the Ministry of Finance of the Republic of Kazakhstan, in June the agency plans to place bonds worth a total of 870 billion tenge (570 billion in May)", stated the Association of Financiers of Kazakhstan.
It should be recalled that earlier, Majilis deputy Tatyana Savelyeva reported that the country's budget deficit for 2023 amounted to 3.1 trillion tenge, or 2.6% of GDP.
Incidentally, our neighbour Kyrgyzstan in 2022 closed with a state budget deficit equal to 1% of GDP. However, in 2023 it shifted to a surplus of 1% of GDP.