The Kyrgyz Republic has upgraded its credit rating to B+ with a stable outlook. The international rating agency Standard & Poor’s (S&P) Global Ratings says.
As the Cabinet of Ministers of the Kyrgyz Republic stated, «this significant achievement is the result of large-scale structural reforms carried out in the country and aimed at stimulating business activity, supporting strategic industries, modernizing infrastructure, improving the investment climate».
The S&P Global Ratings report notes that the successful reorientation of regional trade and strengthening domestic demand has allowed Kyrgyzstan to achieve real GDP growth of 9 percent over 2022-2024.
Additionally, a 15 percent rise in domestic consumption and a decline in the unemployment rate to 4 percent in 2024 «demonstrate positive labor market trends and economic stability.»
The report also notes the strong growth in the capitalization of the banking sector and emphasizes that sustained demographic growth—around 2 percent per year—creates additional potential for the country’s long-term economic development.
Furthermore, the nation’s stable fiscal position, moderate public debt level, and high-quality reforms have received positive evaluations from the agency.
«The B+ rating is a crucial step in strengthening Kyrgyzstan’s position in international financial markets, opening new opportunities for the corporate sector. Companies in the country can now undergo international rating assessments and attract funding by accessing global capital markets,» the Cabinet of Ministers stated.
The credit rating upgrade also creates favorable conditions for Kyrgyzstan’s debut sovereign Eurobond issuance, contributing to further economic growth and enhancing international investor confidence in the country.
S&P Global Ratings is a leading international rating agency and part of the S&P Global (NYSE: SPGI) group. The agency assesses the risks and creditworthiness of companies, governments, and debt obligations, assigning credit ratings that serve as a benchmark for investors and help organizations raise capital.
