Kazakhstan accounts for 62% of Central Asia's $290.8bn external debt
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Kazakhstan remains the largest debtor in Central Asia, with its external debt reaching $181.8 billion, according to Ranking.kz. The country accounts for over 62% of the region's total external debt of $290.8 billion, which includes Uzbekistan, Kyrgyzstan, and Tajikistan.
Regional Debt Breakdown
The total external debt of Kazakhstan, Uzbekistan, Kyrgyzstan, and Tajikistan reached $290.8 billion by the end of 2025, according to data from the CIS Statistical Committee. Kazakhstan alone accounts for $181.8 billion, or 62.5% of the regional total. Uzbekistan follows with a significantly smaller share, though exact figures were not disclosed.
Kazakhstan's Debt Profile
Kazakhstan's external debt has grown steadily, driven by corporate borrowing and government obligations. The $181.8 billion figure represents a substantial portion of the country's GDP, raising concerns about fiscal sustainability. The National Bank of Kazakhstan has previously flagged external debt as a key risk to economic stability.
Alcohol Consumption Rankings
Kazakhstan leads Central Asia in alcohol consumption, with residents over 15 consuming over five liters of pure alcohol annually, according to a recent ranking. Deputies have responded to the report, which places Kazakhstan as the top drinking country in the region.
Kazakhstan-Austria Trade Dominance
Kazakhstan accounts for over 80% of Austria's trade turnover with Central Asia, as stated during a meeting between President Kassym-Jomart Tokayev and Austrian Federal Minister for European and International Affairs. This highlights Kazakhstan's role as Austria's main economic partner in the region.
What's Next
The Kazakh government is expected to release updated debt management targets in its 2027 budget proposal later this year. It remains unclear whether the country will implement measures to reduce its external borrowing or rely on continued economic growth to service the debt.
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Kazakhstan accounts for 62% of Central Asia's $290.8bn external debt
