Kyrgyzstan's domestic debt will grow by more than 92 billion KGS in 2026

In 2026, Kyrgyzstan's domestic public debt will increase by 92.2 billion KGS. This increase is based on the preliminary forecast calendar for the issuance of government securities planned by the Ministry of Finance for next year.

According to the document, during 2026, it is planned to place government treasury bills and government treasury bonds with various maturities. The total volume of borrowings on the domestic market by month varies from 1.1 billion KGS in December to 10.9 billion KGS in February, April, and August.

The largest contribution to the growth of domestic debt will be made by:

• 10-year GKOs — regular issues of up to 5.5 billion KGS in certain months;
• 5-year GKOs — 2 billion KGS per month;
• 7-year GKOs — up to 4 billion KGS per month;
• short-term instruments (12-month GKVs and 2-year GKOs), which form the basic liquidity of the market.

Auctions for the placement of 12-month treasury bills and 2-year government bonds are planned to be held weekly on the Kyrgyz Stock Exchange, while issues of 3-15-year bonds will be placed through the National Bank of Kyrgyzstan.

Thus, if the announced calendar is implemented, the country's domestic public debt will increase by more than 92 billion KGS by the end of 2026. This reflects the state's continued focus on domestic sources of borrowing and the development of the market for government securities in the national currency.