OREANDA-NEWS. May 16, 2014. As of 2013 the level of national debt of Kazakhstan and flows of its servicing and repayment are within acceptable and safe limits. It has been stated by Deputy Prime Minister and Finance Minister Bakhyt Sultanov at the presentation of the reports on the execution of the republican budget for 2013 in the Majilis.

"In relation to GDP national debt amounted to 12.9%, the debt burden on the budget is at an acceptable level with current levels of inflation and interest rates, which was formed at 9.7 tenge in 2013," B.Sultanov said.

According to him, government securities placed on the domestic market occupy specific weight out of total debt.

"As of January 1, 2014 national debt amounted to 4.4 trillion tenge or 12.9% to GDP," B. Sultanov said.

He also noted that according to the report WEF GCI (Global Competitiveness Index of the World Economic Forum) Kazakhstan was ranked 14th on national debt subindex.

"As of January 1, 2014 the arrears to the budget decreased by 17.3 billion or 21.2% (compared to the results in 2012). Of the total arrears 18.0 bilion tenge or 28.1% fall on the arrears, which materials are submitted to the law enforcement authorities in connection with the presence of signs of pseudo-entrepreneurship," Sultanov said.

He also noted that a fixed attention was given to the fight against the shadow economy in 2013.

"A plan to combat the shadow economy has been developed. As is known, the main directions of the shadow economy are fraud with VAT, turnover concealment and complexity of procedures. These areas have been worked out. Issue on application of the payment system through special VAT accounts is looked into to control VAT. Legislative amendments regarding the application of POS-terminals have been made to control turnover and stimulate cashless payments," Sultanov added.

According to the report, in 2013 the national budget received 5 272,4 billion tenge or 100.6% of the plan 98.2% of revenues falls on income - 5 179,5 billion tenge, including tax 3 510,6 billion tenge, non-tax revenues - 100.7 billion tenge, revenues from sales of fixed assets - 9 billion tenge, transfers - 1 559,2 billion tenge.

As of 2013 Assets of the National Fund were added 3 991,6 billion tenge and as of January 1, 2014 amounted to 13 026,1 billion tenge, including investment income – 559,3 billion tenge. Republican budget for 2013 amounted to 5 990,5 billion tenge or 99.3% of the plan. The national budget deficit amounted to 718,0 billion tenge or 2.1% to GDP at the "level" of 2.3% to GDP.

Enterprises operating within the Industrialization Map generated production for 1.2 trillion tenge in 2013, Deputy Prime Minister - Minister of Finance Bakhyt Sultanov.

"Industrialization Map projects manufactured products worth more than 2,8 trillion tenge, including in 2013 - KZT 1,2 trillion or 6.5% of total industrial production," B. Sultanov said.

He also noted that the contribution of the projects to GDP growth for 2013 was 0,8 percentage points.

According to the Finance Ministry, 651 projects totaling 2.4 trillion tenge have been introduced and 67 thousand permanent jobs have been created within the Industrialization Map during the last 4 years. Exports of these enterprises’ products reached 113 billion tenge during this period.