The akimat of the Karaganda region has commented on the information regarding an audit of debt management effectiveness of local executive bodies (LEBs), the results of which revealed violations totalling 5.3 billion tenge.
The press service of the department reported that loans were taken out in 2020 during the pandemic to support employment, create jobs, and prevent a sharp rise in unemployment. The funds were also directed towards repairing social facilities, roads, and public utilities systems. It is noted that the money was issued for 12 years at 6.1% per annum, with repayment starting in 2030.
At the same time, the akimat reported that in 2020, as part of the construction of affordable housing under the 'Shanyrak' project, funds were allocated through the issuance of government bonds.
"However, these funds were not included in the overall debt limit for local executive bodies, as the government gave special permission during the pandemic," the statement reads.
Karaganda Su LLP stated that there is no legislative prohibition on placing the company's temporarily available funds on a short-term bank deposit.
"In 2024, the LLP underwent inspections by the State Audit Service and the audit commission of the Karaganda region, among the issues reviewed was the use of funds from budget lending. Not a single inspection recorded a violation regarding the placement of temporarily available funds on deposit," the company emphasised.
Teplotransit Karaganda LLP reported that from 2015 to 2022, it raised funds for the reconstruction of heating networks totalling 16.6 billion tenge.
"Repayment of the principal debt under the concluded loan agreements began in 2021. During 2021–2024, 527 million tenge was paid. In 2024, one violation was committed regarding the late payment of a loan due to the lack of financial resources in the tariff estimate. As of today, there are no violations," the statement reads.
Recall that earlier the audit commission for the Karaganda region conducted an audit of the debt management effectiveness of LEBs and certain quasi-public sector entities. Auditors found that over the past 5 years, the debt of local executive bodies has increased 2.2 times, and the cost of servicing it has increased 1.5 times.