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Peak of payments on state debt of Kyrgyzstan to be in 2027

The peak of payments on the state debt will be in 2027, when Kyrgyzstan will have to pay $ 400 million from the budget. The Minister of Finance Adylbek Kasymaliev announced this today at the meeting of the Parliament.

According to him, in 2018, at least 13.81 billion soms, or about $ 190 million, were included into the budget for the payment of state debt. The ratio of external debt to GDP of Kyrgyzstan is 48.2 percent, domestic — 7.7 percent.

«In 2018, in aggregate, the state debt of the country in relation to GDP is 56.4 percent. There is a decline. We still need loans, but under certain conditions. We, unlike neighboring states, for example, Tajikistan, do not take loans, where grants constitute less than 35 percent. In addition, we take loans for the development of infrastructure and the economy. But there should be a debt limit,» he said.

International financial institutions suggest lowering the debt to GDP threshold to 65 percent. The government proposes to set it at 70 percent, including 60 percent — for the external debt, and 10 percent — for the internal.