About 105 billion tenge needed to write off loans and debts of Kazakhstanis

AKIPRESS.COM - About 105 billion tenge will be needed for writing off loans and debts of multi-child and socially vulnerable families of Kazakhstan, the First Deputy Prime Minister and Minister of Finance of Kazakhstan Alikhan Smailov told a press conference.
"In terms of money for write off the unsecured consumer loans, about 105 billion tenge are needed, including 88.5 billion tenge will be allocated from the state budget," he said.
About 17 billion tenge are planned to be attracted by issuing obligations, he noted.
Smailov added that 70% on debts and fines will be written off by financial organizations themselves.
The procedure of write off loans may last for two months, according to Deputy Chairman of the National Bank Oleg Smolyakov.
President Kassym-Jomart Tokayev on June 26 signed a decree on reduction of a debt load of citizens, who have unsecured consumer loans.