Kyrgyzstan’s public debt is at a safe level and does not pose a threat to the country’s financial stability, former Prime Minister and current head of the Chamber of Commerce and Industry of Kyrgyzstan Temir Sariev stated.
According to him, prior to 2020, public debt posed a serious risk — the country could have faced difficulties in paying salaries and pensions, and loans were mainly used to cover the budget deficit. «Today, the situation has changed. International standards say that public debt should not exceed 70 percent of GDP, and debt servicing should not exceed 30 percent of budget revenues. In Kyrgyzstan, these figures are significantly lower,» Sariev said.
He emphasized that the republic’s current public debt stands at 45.1 percent of GDP, with debt servicing accounting for only 14 percent of budget revenues.
«This shows that the country is confidently meeting its obligations, and borrowing is directed not at filling budget gaps but at developing infrastructure and implementing major investment projects,» the Chamber of Commerce and Industry Chief added.
