The Kyrgyz Republic has been assigned a credit rating of «B» with a «Stable» outlook by the international rating agency Fitch Ratings, the Cabinet of Ministers reported.
This event has become an important step in strengthening the confidence of international financial markets and opens up new opportunities for attracting investment in the country’s economy, the statement says.
Fitch Ratings emphasizes Kyrgyzstan’s sustainable economic growth, noting that from 2022 to 2024, GDP grew steadily by 9 percent per year, thanks to robust trade, capital inflows, and investment in the construction sector. The agency also notes the republic’s sustainable fiscal performance, emphasizing the budget surplus in 2023 and 2024 due to effective tax collection and a diversified tax base.
Fitch Ratings also forecasts that investments in energy and mining, favorable demographic trends, and efforts to diversify and formalize the economy will support medium- and long-term economic growth in the Kyrgyz Republic.
The assignment of «B» rating is the result of the consistent work of the Cabinet of Ministers to improve the transparency and sustainability of the economy, as well as to create a favorable investment climate, the government added.
«Obtaining a credit rating from one of the world’s leading agencies contributes to the diversification of funding sources and increases the country’s investment attractiveness. This will allow Kyrgyzstan to attract loans on more favorable terms and implement large-scale projects that contribute to economic development,» the press release notes.
Fitch Ratings is an American corporation, known primarily as a rating agency. Along with Standard & Poor’s and Moody’s, it is one of the so-called «Big Three» international rating agencies.
It specializes in providing independent and forward-looking credit ratings, research and data to the global credit markets.
It was founded on December 24, 1913 in New York by John Knowles Fitch.
