Kyrgyzstan's economic week Jan.29 - Feb. 2

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Unexpected increase. “Economic growth exceeded expectations in 2017. GDP grew by 4.5 percent, with the recovery encompassing most sectors, representatives of the International Monetary Fund told.

Demand was supported by remittances, which surged 25 percent in dollar terms, and public spending, which grew by 4 percent of GDP. Headline inflation at 3.6 percent remained below the NBKR’s target range of 5–7 percent, International Monetary Fund team led by Mr. Edward Gemayel said in the statement on the results of the visit to the Kyrgyz Republic.

In his view, “The 2017 fiscal deficit was kept close to the 3.5 percent of GDP target, despite a significant fiscal expansion in the run-up to the October presidential elections and weak tax revenue collection. The economic recovery and efforts to tighten expenditures after the elections helped limit the deficit.

Neighboring trade turnover. During the official visit of Kyrgyz President Sooronbay Jeenbekov to Tajikistan, it became clear that the sides intend to increase trade turnover between the countries. This topic was discussed by Presidents Jeenbekov and Emomali Rahmon.

At the meeting of the two heads of state it was stressed that concrete, effective measures should be taken to intensify trade and economic cooperation and create favorable conditions for increasing the volume of trade between Kyrgyzstan and Tajikistan.

Crypto currency against corruption. Prime Minister of the Kyrgyz Republic Sapar Isakov told at the forum "Digital Agenda in the Era of Globalization" in Almaty that Kyrgyzstan will use the crypto currency in the system of public procurement. Isakov said that this will reduce the level of corruption in the public procurement system.

“Taza Koom project will allow to optimize state expenditures, increase the revenue side of the budget," he said.

JV with neighbors. Minister of Economy of Kyrgyzstan Artem Novikov and Minister of Economic Development and Trade of Tajikistan Nematullo Hikmatullozoda discussed the possibility of establishing joint ventures on the territory of Kyrgyzstan and Tajikistan.

The meeting of ministers took place within the framework of the official visit of the President of Kyrgyzstan Sooronbay Jeenbekov to Tajikistan.

The ministers discussed the possibility of establishing agricultural processing enterprises in the border areas of the Batken oblast of Kyrgyzstan and the Sughd region of Tajikistan.

Kabar News Agency

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