Kyrgyzstan’s public debt declines to 39% of GDP
Kyrgyzstan’s public debt has fallen to 39 percent of the country’s gross domestic product (GDP), President Sadyr Zhaparov said while commenting on the government’s debt management policies, Qazinform News Agency cites Kabar.
Zhaparov noted that before 2020, Kyrgyzstan’s external debt had reached around 120 percent of GDP.
While before 2020, Kyrgyzstan’s external debt amounted to approximately 120 percent of GDP, today the total public debt is 39 percent of GDP, Zhaparov said. He added that he had instructed the Cabinet of Ministers to ensure the figure does not exceed 50 percent in the future.
According to Zhaparov, unlike in previous years, borrowed funds are now allocated only to specific development projects. He said each loan is subject to full oversight and that projects financed through external borrowing must eventually generate sufficient returns to justify the investment.
Earlier, Qazinform reported Kyrgyzstan’s territory had been expanded by 15,572 ha after border delimitation.