Kazakhstan's external debt up US$0.7 bln
It fell by $1.4 billion in the fourth quarter of 2016. In the structure of Kazakhstan's external debt, public sector's debt was recorded at 7.9 percent or US$12.9 billion; banking sector's at 4.4 percent or US$7.2 billion; other sectors' debt unrelated to direct investments made 32.0 percent or US$52.5 billion; intercompany loans made the remaining 55.7 percent or US$91.3 billion.
According to NBK, in 2016 the country's external debt increased by US$0.7 billion, mainly due to borrowing from the World Bank Group aimed at maintaining the competitiveness of Kazakh economy, building roads and other institutional projects.
External debt of Kazakhstan's banking sector decreased by US$ 0.8 billion, mainly due to repayment and repurchase of Eurobonds of this sector by residents.
External liabilities of other sectors, including intercompany loans, increased by US$10.5 billion, mainly due to investments in extractive industries projects.
National Bank's data suggests that the external debt to GDP ratio in 2016 was 122.5 percent compared to 83.2 percent as of December 31, 2015. The ratio has changed due to the growth of external debt and the decline in GDP. The public sector's external debt including state-controlled entities was recorded at 26.8 percent of GDP, compared to 17.7 percent at the end of 2015.