Tokayev signed decree on repayment of unsecured consumer loans

Date: 14:18, 27-06-2019.

Astana. June 27. KazTAG - The President of Kazakhstan Kassym-Jomart Tokayev has signed a decree on repayment of unsecured consumer loans, reports the press-service of the President of Kazakhstan.
“Many socially vulnerable citizens (large families, families with disabled children, families who lost their breadwinner, recipients of targeted social assistance, orphans) for various reasons found themselves in a difficult life situation and cannot perform their loan commitments. (...) The goal is to help Kazakhstanis who find themselves in a difficult life situation, to give them an opportunity to improve the financial situation of their families, ” reads the commentary to the decree of the President of Kazakhstan No. 34 dated June 26, 2019 “On measures to reduce the debt burden on citizens of the Republic of Kazakhstan" posted on the site of Akorda.
It is noted that during the presidential campaign, the head of state promised to continue implementing the strategy of Elbasy in accordance with the principle of continuity, including work on the  hottest social issues.
“The president receives numerous appeals from people asking to help with payment of consumer unsecured loans. (...) The debt burden of many people is growing, their real incomes are decreasing. People do not know how to repay their loans. This problem affects the vital interests of about 500 thousand people," reads the statement.
As specified, the size of more than 86% of loans is less than 1 million tenge. The average size of debt is about 300 thousand tenge.

Photo source: picture from an open source

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