S&P affirmed the ratings of Kyrgyzstan with “stable” outlook
Date: 14:59, 28-03-2016.
Almaty. March 28. Silkroadnews - International rating agency Standard & Poor’s (S&P) affirmed its “B/B” ratings on Kyrgyzstan, pointing to the country economy’s high vulnerability due to its dependence on Russia, KyrTAG reports.
According to the agency experts, the deficit of the Kyrgyz budget could rise to 4.5% of GDP in 2016-2017, the size of the national debt could reach 70% of GDP in the coming years.
Russia accounts for one-third of the foreign trade of the country and most of the money remittances from abroad.
As the minister of finance of the Kyrgyz Republic Adylbek Kasymaliyev previously noted, at the beginning of 2016 the total public debt of Kyrgyzstan amounted to $3.695 billion and increased by 1.3% per year.
