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The document ceased to be valid since  July 5, 2023 according to Item 1 of the Order of the Government of the Republic of Kazakhstan of June 21, 2023 No. 492

ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of June 15, 2009 No. 906

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

(as amended on 17-03-2023)

According to the subitem 2) of Item 1 of Article 203 of the Budget code of the Republic of Kazakhstan the Government of the Republic of Kazakhstan DECIDES:

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. This resolution becomes effective from the date of signing.

Prime Minister of the Republic of Kazakhstan

K. Masimov

Approved by the Order of the Government of the Republic of Kazakhstan of June 15, 2009 No. 906

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

1. General provisions

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.

2. Procedure for determination of limit of government debt and debt of local executive bodies

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 according to appendix 1 to these rules and submitted for consideration of the Republican budget commission.

3-1. 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.

3-2. 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.

4. The amount of expenses on repayment and debt servicing of local executive body shall not 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.

5. 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.

6. No. 227 is excluded according to the Order of the Government of the Republic of Kazakhstan of 17.03.2023

7. 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 of housing within implementation of state programs, concepts of development of industry (sphere), national projects, financing in accordance with the established procedure separate actions for employment assistance, in the form of release of the city of republican value by local executive body with special status, certain 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 the limit of debt is created taking into account:

1) amounts of own income of the local budget and transfers of general nature;

2) opportunities to independently serve and pay off the debts in the planned financial year.

8. The central authorized body on state planning in coordination with the central authorized body on budget implementation sets limit of debt of local executive bodies of areas, cities of republican value, the capital for the planned financial year on formulas according to appendix 2 to these rules till December 15 of the year prior to planned.

8-1. 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.

3. Procedure for determination of limit of provision of the state guarantees and guarantees of the state

9. The limit of provision of the state guarantees and guarantees of the state for the corresponding year is created proceeding from amounts of expenses of the republican budget, maintenance costs of government debt, costs connected with accomplishment of obligations on the state guarantees and guarantees of the state for the planned financial year.

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