Public debt expenditure increased: Kyrgyzstan paid more than KGS 3 billion on government securities

In January–April 2025, Kyrgyzstan allocated more than KGS 3.7 billion to pay interest on government securities (GS). This is KGS 877 million more than in the same period of 2024, when payments amounted to KGS 2.86 billion.

The increase in payments indicates a rise in the cost of servicing domestic debt, which is linked to both the growth in GTS placements and higher market yields.

According to the latest data, the total volume of government securities (GS) in circulation as of June 13, 2025, amounted to 199.5 billion KGS, of which debt instruments with maturities ranging from 3 to 10 years account for the largest share. According to information from the Kyrgyz Stock Exchange, as of June 9, government securities worth KGS 7.5 billion were in circulation.

Government securities are a key instrument for attracting resources to finance the budget. However, rising interest expenses may further increase pressure on the treasury.