Kyrgyzstan’s economic week – Apr. 16-21, 2018

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The Polish vector. At a meeting of former Minister of Economy Artem Novikov and Polish Ambassador to Kyrgyzstan Selim Khazbievich, it became known that in 2017 the trade turnover between the two countries amounted to $ 24.7 million. The growth was 44.5% compared to 2016, including exports amounted to $ 1.9 million (an increase of 10.1%), imports - $ 22.8 million (an increase of 1.5 times).

The sides proposed to intensify the economic interaction between the two countries taking into account that the level of bilateral trade does not meet the existing potential.

Technical support. Large enterprises of Kyrgyzstan wishing to receive funding from the Russian-Kyrgyz Development Fund (RKDF) have the opportunity to receive technical support in the form of consulting services on a grant basis. The technical support includes consultation of highly qualified specialists (financiers, lawyers, auditors) who will help entrepreneurs to prepare documents for obtaining a loan (business plan, feasibility study, management and financial accounting). These steps are necessary to ensure that large-scale projects comply with international business standards. As a result, large enterprises will be supported in priority sectors of the economy.

Again about taxes. The President of Kyrgyzstan signed the Law of the Kyrgyz Republic "On Amending the Tax Code of the Kyrgyz Republic". The law was adopted by the Jogorku Kenesh on February 28, 2018. The law was adopted in order to extend the exemption from value added tax (VAT) for banking equipment - ATMs, POS terminals, payment terminals and bank kiosks imported to the territory of the Kyrgyz Republic until 2022.

Exports to EEU increase. According to data of the resigned Government of the Kyrgyz Republic, following the results of 2017, exports to the countries of the Eurasian Economic Union increased. The growth of foreign trade turnover in 2017 amounted to 12.5% ​​or $ 6.3 billion. Positive dynamics in foreign trade with partners in the EEU was noted. Following the results of 2017, exports to the EEU countries increased by 27%, while to the third countries - by 8.6%.

The indicators of foreign trade indicate a positive effect of state financial support to domestic producers and fiscal stimulation of export-oriented enterprises.

Efficiency of Gazprom. The investment program of Gazprom Kyrgyzstan LLC for 2015-2017 has been implemented in full, within the framework of which gas was supplied to 16 settlements in Bishkek, Chui and Osh oblasts. In addition, the construction of industrial facilities and administrative buildings has been completed, including: a new central office, a training and production center, an industrial site of the Bishkekgas branch, an administrative building of the Tokmok industrial site, Bukhara gas area - Tashkent-Bishkek-Almaty gas pipeline and others.

Full-scale construction and reconstruction of the Bukhara gas area - Tashkent-Bishkek-Almaty main gas pipeline is underway.

The gas pipeline, which originates in the Bukhara region of Uzbekistan and passes through the territory of Kazakhstan and Kyrgyzstan, is of key importance for the whole Central Asia. The new branch of the above gas pipeline will ensure uninterrupted gas supply not only to the north of the country, but also some regions of Kazakhstan.

The construction plan entered the active phase of implementation in August 2016, it employs 300 people and 150 units of specialized equipment.

The commissioning of the gas pipeline with the capacity of 1.7 billion cubic meters per year will allow to increase the capacity of the gas transportation system in the north of the country by almost 2 times (up to 3.7 billion cubic meters). Such a large-scale gasification project is being held for the first time in the history of Kyrgyzstan.

Stamp and som. Within the framework of the events dedicated to the 25th anniversary of the national currency of Kyrgyzstan - Som, the State Committee for Information Technologies and Communications, at the initiative of the National Bank, issued postage stamp "25 years in the national currency of the Kyrgyz Republic" with a circulation of 3,000 copies and a denomination of 117 soms.

Postage stamp "25 years of the national currency of the Kyrgyz Republic" is sold in the office of Kyrgyzmarkasy state enterprise.

The national debt. The Government of Kyrgyzstan proposes to introduce changes to the Budget Code of the country, for the establishment of new rules: the budget deficit may not be more than 3% of GDP, and the amount of public debt is not more than 70% of GDP. The Ministry of Finance of the Kyrgyz Republic came out with such an idea.

Currently, this bill is under consideration in the Jogorku Kenesh.

As of February 28, 2018, Kyrgyzstan's public debt (external + domestic) amounted to 4.4 billion dollars, of which 3 billion 885 million dollars - the state's foreign debt.

Most of all, Kyrgyzstan owes China Mark and catfish. Within the framework of the events dedicated to the 25th anniversary of the national currency of Kyrgyzstan - Som, the State Committee for Information Technologies and Communications, at the initiative of the National Bank, introduced a postage stamp "25 years in the national currency of the Kyrgyz Republic" with a circulation of 3,000 copies and a denomination of 117 soms.

To buy a postage stamp "25 years of the national currency of the Kyrgyz Republic" it is possible in the office of SE "Kyrgyzgismasy".

On the national debt. The Government of Kyrgyzstan proposes to introduce changes to the Budget Code of the country, for the establishment of new rules: the budget deficit may not be more than 3% of GDP, and the amount of public debt is not more than 70% of GDP. With this idea, the Ministry of Finance of the Kyrgyz Republic came out.

Currently, this bill is under consideration in the Jogorku Kenesh.

As of February 28, 2018, Kyrgyzstan's public debt (external + domestic) amounted to $ 4.4 billion, of which $ 3 billion 885 million - the state's foreign debt.

Most of all, Kyrgyzstan owes China $ 1.7 billion, which is almost 44% of the total external debt of the country.

Kabar News Agency

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