The republican budgets of the Eurasian Economic Union (EAEU) member states for January–September 2025 once again demonstrated divergent trends. However, the overall picture remains unchanged: Kyrgyzstan is the only country that ended the period with a surplus, Akchabar.kg reports.
According to financial authorities of the EAEU, Kyrgyzstan’s budget surplus doubled compared to the same period last year, reaching 86.1 billion soms ($1 billion) versus 41.3 billion soms ($500 million) in 2024.
How the budgets of other EAEU states compare
While Kyrgyzstan’s fiscal position has strengthened significantly, other countries in the union continue to show persistent deficits:
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Armenia: the deficit increased by 9.5% in national currency but remained unchanged in dollar terms — about $200 million.
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Russia: the sharpest deterioration — the deficit increased fivefold, reaching $41 billion, compared to $8.1 billion in 2024.
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Kazakhstan: reduced its deficit, though it remains substantial — $5 billion, down from $6.5 billion a year earlier.
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Belarus (for additional comparison): recorded a moderate deficit of about $1.1 billion for January–September, similar to last year’s level.
Why Kyrgyzstan’s numbers stand out
Against the backdrop of deficits in the region's largest economies — Russia and Kazakhstan — the surge in Kyrgyzstan’s surplus appears especially striking. Kyrgyzstan remains the only EAEU country where revenues consistently exceed expenditures, both in national currency and in US dollar terms.
Economists cite several contributing factors: higher tax revenues, digitalization of administration, increased foreign trade turnover, and a more conservative fiscal policy.
As a result, Kyrgyzstan is consolidating its position within the EAEU as the country with the most balanced and stable budget management at this stage.
CentralasianLIGHT.org
25 November 2025