Peak periods for servicing the state debt have already come. Finance Minister of Kyrgyzstan Almaz Baketaev announced at a press conference.
According to him, 53 billion soms are planned to be spent on servicing the state debt this year. Next year this figure will be 66 billion.
«To confidently pass the stage of peak payments on the state debt, we have projected the budget policy in terms of forming surpluses. This gives us the opportunity to service the state debt without borrowing,» Almaz Baketaev said.
He also stressed that to date the budget is at such a stable level that there is no doubt in servicing the state debt. The budget has all possibilities for this.
«Previously concluded contracts provide for payment of debts ahead of schedule. But at the same time the terms of payment are changed, the amount of interest becomes different. This is not favorable for us. Today we make all payments on time and in full,» the official added.
In September, Kyrgyzstan’s state debt (foreign and domestic) totaled $5,987.01 billion (531,108.91 billion soms), the Finance Ministry said. At least 35,771.7 billion soms were spent on its servicing for ten months of 2023.
