Kyrgyz President Sadyr Japarov said that in case of necessity, the country has the ability to repay all its external debt in one day, but such a step is not economically feasible. This was reported by the publication Zamon.uz reported.
According to the President, while the state debt constituted 54 percent of GDP in 2020, this indicator has now fallen to about 25 percent. Japarov emphasized that external debt does not pose a threat to the country's economy, and that early repayment of loans is unprofitable due to high interest and penalties.
According to plans, Kyrgyzstan will fully repay all debt obligations by 2035.
The head of state also reported that gold and foreign exchange reserves have exceeded 8.5 billion dollars. Currently, Kyrgyzstan's total state debt amounts to 8.6 billion dollars, of which 5.2 billion dollars are external debts.
The President noted that the economic growth rate has reached 10 percent, emphasizing that this puts the country among the world's fastest-growing economies.
