11:49, 30 декабря 2025, Bishkek - 24-kg.com news agency , Baktygul OSMONALIEVA
The Analytical Credit Rating Agency (ACRA) has upgraded Kyrgyzstan’s long-term international credit rating to BB-. The agency announced.
The rating in both foreign and national currencies has been upgraded to BB-. The decision is due to an updated methodology and changes to the institutional environment assessments, as well as a review of several factors.
Among the positive factors, ACRA notes a moderate and declining level of public debt with low interest expenses due to the high share of concessional debt, strong economic growth, and stable support from international development institutions. The agency also notes the relatively low share of the public and quasi-public sectors in the economy.
Risk factors include low living standards and heavy dependence on the external sector. The agency notes that per capita GDP in current prices is just over $2,500.
Public debt, which rose to 68 percent of GDP in 2020, stabilized in 2021-2024 and stood at 42 percent as of August 2025. The budget was executed with a surplus of 0.9 percent of GDP in 2023 and 2.4 percent last year.
The National Bank of the Kyrgyz Republic’s gross reserves increased to $8.27 billion at the end of November 2025. External public debt was estimated at 24.7 percent of GDP at the beginning of November, and domestic debt at 17 percent of GDP.
ACRA clarifies that the «stable» forecast indicates a high probability that this assessment level will be maintained over the next 12-18 months.