Bishkek, Nov. 10, 2025. /Kabar/. President Sadyr Zhaparov commented on the issue of foreign and domestic debt accumulated over the past 30 years.
"Fortunately, the time for repaying all these debts and resolving other complex issues coincided with my presidential term. We repaid:
- 2020 — 31 billion soms
- 2021 — 30 billion soms
- 2022 — 34 billion soms
- 2023 — 53 billion soms
- 2024 — 60 billion soms
- 2025 — 79 billion soms
Total of 285.4 billion soms (US$3.3 billion) were allocated to repay the public debt from 2020 to 2025:
external debt — 170.5 billion soms (US$1.9 billion),
domestic debt — 114.9 billion soms (US$1.4 billion).
Thus, we will completely eliminate accumulated external debt by 2035, and without any significant difficulties. This is made possible by high rates of economic growth, which are projected to continue for the next 15-20 years. With large-scale projects underway and new investments coming in, the country's GDP will grow even faster. The sustainability of public debt is determined by its ratio to GDP. Currently, this ratio stands at 42%, while previously it ranged from 68-84%. Therefore, there is no cause for concern.
All funds raised are directed exclusively toward economic development, which, in turn, will lead to further GDP growth. As for current borrowings, they are being taken for specific, targeted projects. We will not spend som from the budget, because each project will be self-sufficient.
For example, the Kambar-Ata Hydroelectric Power Station. We are raising $1.5 billion for 50 years, interest-free. The grace period is 10 years. Construction will take 7-8 years, after which the station will begin operating immediately. Revenue from its operations will allow the loan to be repaid in approximately 15 years, rather than 50.
Another example is the China-Kyrgyzstan-Uzbekistan railway. This project is not an external debt. It is being implemented as a commercial venture: three countries jointly build the railway, commission it, and after 35 years, two parties withdraw from the project, and the railway becomes the sole property of Kyrgyzstan.
Here I would like to address the public once again and make one important reminder. If we imagine all the countries of the world united in a single economic ocean, then China itself is a separate economic ocean.
Now we are building a railway that will connect these two oceans. This railway will pass through Kyrgyzstan. In the future, we will become a transit country and will be able to influence global economic policy.
Therefore, don't fall for provocations and we must complete this project as soon as possible.
It should be noted that almost 90 percent of such large projects are not directly related to the state budget.
Of course, some loans are being raised for social projects and road construction, but they will not have a significant impact on the budget going forward. Therefore, I ask you to ignore those who, by speculating on foreign debt figures, are trying to sow panic and stir up trouble, portraying the situation as a tragedy. Everything is being used for its intended purpose and directed toward targeted projects. The main thing is that this will not impact the budget going forward," the head of state stated.