Country risk rating

D4

HIGH RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD7.74bn (World ranking 148, World Bank 2020)
Population 6.59mn (World ranking 110, World Bank 2020)
Form of state Presidential Republic
Head of state Sadyr JAPAROV (President)
Next elections 2021, legislative
  • Rich in mineral resources
  • Membership of Eurasian Economic Union
  • Strategic location between CIS and Asia, with strong business interest from China, including the construction of transit links
  • Poor economic diversification; high dependence on gold mining in a few mining places as well as on global gold prices
  • Dependence on remittances from Russia
  • Exchange rate vulnerability to external shocks, potentially causing inflation volatility
  • Elevated public debt levels
  • History of large annual current account deficits
  • Very high external debt in relation to GDP
  • Weak business environment, especially with regard to rule of law and perceived corruption
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