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of May 25, 2023 No. 79
About approval of Rules of determination of limit of government debt and debt of local executive body, limits of provision of the state guarantees and guarantees of the state
According to the subitem 2) Item 1 of Article 203 of the Budget code of the Republic of Kazakhstan PRIKAZYVAYU:
1. Approve the enclosed Rules of determination of limit of government debt and debt of local executive body, limits of provision of the state guarantees and guarantees of the state.
2. To department of policy of management of obligations of the state and development of the financial sector of the Ministry of national economy of the Republic of Kazakhstan in the procedure established by the legislation of the Republic of Kazakhstan to provide state registration of this order in the Ministry of Justice of the Republic of Kazakhstan and its placement on Internet resource of the Ministry of national economy of the Republic of Kazakhstan.
3. To impose control of execution of this order on the first vice-minister of national economy of the Republic of Kazakhstan.
4. This order becomes effective after ten calendar days after day of its first official publication.
Minister of national economy of the Republic of Kazakhstan
A. Kuantyrov
It is approved Ministry of Finance of the Republic of Kazakhstan |
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Approved by the Order of the Minister of national economy of the Republic of Kazakhstan of May 25, 2023, No. 79
1. These rules of determination of limit of government debt and debt of local executive body, limits of provision of the state guarantees and guarantees of the state (further - Rules) are developed according to the Budget code of the Republic of Kazakhstan (further - the Budget code) and determine procedure for determination of limit of government debt and debt of local executive body, limits of provision of the state guarantees and guarantees of the state.
2. The size of limits of government debt and debt of local executive body, limits of provision of the state guarantees and guarantees of the state is rounded with an accuracy of one thousand tenges.
3. The limit of government debt for the corresponding financial year is created proceeding from limit of the government debt on the end of the year preceding the planned financial year of the total amount of financing of deficit of the republican budget due to government borrowing in the domestic market and government borrowing in the foreign market in the planned financial year taking into account settlement rate of currency exchange on formulas according to appendix 1 to these rules and submitted for consideration of the Republican budget commission.
4. Refining of limit of government debt is made in cases of scope change of deficit of the republican budget established for the planned financial year or settlement rate of currency exchange when refining the republican budget within the corresponding financial year.
At the same time in case of refining of the budget parameters within the corresponding year in calculations the actual amount of government debt for the beginning of the corresponding financial year is applied.
5. The limit of government debt can be exceeded in cases of change of the market rate of currency exchange in relation to settlement rate of tenge to the US dollar provided in the course of development of the republican budget for the planned financial year, release of government securities with discount and also on the amount of the government external loans which arrived into the account in foreign currency of the central authorized body on budget implementation.
6. The amount of expenses on repayment and debt servicing of local executive body cannot exceed the size equal to ten percent from the amount of own income of the local budget and transfers of general nature for the corresponding financial year.
7. For determination of limit of debt of local executive bodies of areas, cities of republican value, the capital for the corresponding financial year data of the central authorized body on budget implementation on condition of debt of local executive bodies for the beginning of the planned period are used.
8. When implementing borrowing by local executive bodies of areas, cities of republican value, the capital in the form of receipt of budget credits from the republican budget and release by local executive bodies of the cities of republican value, the capital of government securities for the address in the domestic market for financing of budget deficit of the city of republican value, the capital, in the form of release by local executive bodies of areas, cities of republican value, the capital of government securities for the address in the domestic market for financing of construction and (or) acquisition, the redemption of housing and (or) apartments in objects of equity in housing construction, and also for financing of construction and reconstruction of sewer treatment facilities within implementation of state programs, concepts of development of industry (sphere), national projects and financing in accordance with the established procedure of separate actions for employment assistance, in the form of release of the city of republican value by local executive body with the special status determined by the Law of the Republic of Kazakhstan "About special status of the city of Almaty, government securities in national currency for the address on the platform of the International financial center "Astana", and also borrowing at international financial institutions in national currency for financing of "green" projects within realization of sustainable development goals limit of debt it is created:
1) taking into account the amount of own income of the local budget and transfers of general nature;
2) taking into account opportunity to independently serve and pay off the debts in the planned financial year.
9. The limit of debt of local executive bodies of areas, cities of republican value, the capital for the planned financial year is established till December 15 of the year prior planned, according to Item 2 of Article 210 of the Budget code on formulas, according to appendix 2 to these rules.
10. Refining of limit of debt of local executive bodies is made in case of change of the budget parameters, when refining the republican budget within the corresponding financial year.
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