Kazakhstan writes off 373 billion tenge in personal debts as 98,600 citizens declared bankrupt

The State Revenue Committee of Kazakhstan reported that 98,600 citizens have been declared bankrupt, resulting in the write-off of debts totaling 373 billion tenge. An additional 23,000 individuals are currently undergoing bankruptcy proceedings, with debts amounting to 134.5 billion tenge.

The law on individual bankruptcy, effective since March 2023, allows debtors unable to meet their obligations to…