Compared with the U.S., Canada and Europe, Kazakhstan remains among the countries with the lowest household debt burdens.
Global household debt continues to rise, but Kazakhstan’s level remains relatively low by international standards.
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According to data from the Institute of International Finance for the first quarter of 2026, Switzerland has become the world leader in per capita household debt. On average, each resident in the country carries nearly $150,000 in household debt.
Analysts attribute this to features of Switzerland’s financial system. Tax rules effectively encourage households to maintain mortgage debt over long periods rather than repay loans early.
Australia ranks second, with per capita household debt of about $83,100. The U.S. follows at $60,600, while Canada stands at approximately $58,800.
More than half of the countries with the highest household debt levels are in Europe.
Overall, global household debt has reached $65.3 trillion, according to analysts. Against this backdrop, Kazakhstan remains significantly less indebted.
Read also: Loan boom: Kazakh banks expand as authorities seek a cooldown.
Kazakhstan’s total household debt is estimated at around $47 billion, with a household debt-to-GDP ratio of approximately 15%, one of the lowest among comparable economies.
Per capita household debt in Kazakhstan is about $2,300 — roughly 65 times lower than in Switzerland.
Analysts note that a relatively low household debt burden can indicate both limited reliance on credit and less developed access to long-term financing, including mortgage markets.
In advanced economies, higher household debt is often associated with easier access to credit, longer-term mortgage products, and higher average income levels.
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