According to EEC data, the most significant growth in external debt is observed in Kyrgyzstan, where it increased by 10.1%.
The total external debt of Kyrgyzstan on the specified date amounted to 12.8 billion US dollars, while a year ago it was at 11.7 billion dollars.
In the structure of Kyrgyzstan's external debt, the largest share is held by direct investments through intercompany lending, which reached 1.8 billion dollars. A significant portion also relates to the obligations of other sectors of the economy — 4.3 billion dollars and borrowings of the banking sector — 1.3 billion dollars.
As of October 1, 2025, the debt of state authorities in Kyrgyzstan amounted to 5.2 billion dollars, which is a decrease compared to October 1, 2024, when it exceeded 5.6 billion dollars. The obligations of monetary regulation authorities remained at a low level — 213 million dollars.
Armenia recorded the highest growth rate of external debt in the EAEU — 12.5%, while Russia demonstrated a decrease of 0.4%.
Kazakhstan, in turn, showed the largest absolute increase in external debt, which amounted to about 5 billion US dollars.
Differences in the structure of external debt are observed among the EAEU member countries. As of October 1, 2025, the debt of state authorities predominates in Armenia, Belarus, and Kyrgyzstan, while in Kazakhstan, intercompany lending debt holds a leading position, and in Russia, debts of other sectors.
