Kyrgyzstan’s economic week Feb. 19-24, 2018

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The fund will be replenished from the EEU. It became known that the Eurasian Development Bank (EDB) will provide the Russian-Kyrgyz Development Fund (RKDF) a $ 50 million revolving credit facility for a period of 5 years. The corresponding agreement was signed by chairmen of the EDB board Andrei Belyaninov and RKDF Erkin Asrandiyev.

The funds will be used to finance investment projects implemented by the Fund in Kyrgyzstan, as well as to finance the Foundation's targeted programs through commercial banks of the Kyrgyz Republic.

The interaction of the two international development institutions will contribute to the development and modernization of the economy of Kyrgyzstan, as well as create prerequisites for deepening the economic integration of the EDB member states.

About investments. The program of state investments for 2017 was fulfilled only by two ministries - the Ministry of Emergency Situations and the Ministry of Transport of the Kyrgyz Republic. Deputy Prime Minister Sanzhar Mukanbetov said that in the past few years there has been a tendency of non-fulfillment of the investment program by many agencies.

"In 2017, the program, which is the main part of the development budget, is implemented by 83%. The total amount of the state investments was approved in the amount of 39 billion soms. The actual execution amounted to 27.8 billion soms, that is, 71%. The amount of undeveloped funds amounted to 11.3 billion soms, which is almost 30% of the state investment budget, "he said.

Trade is growing. The growth of mutual trade in food products of the EEU countries demonstrates the deepening of the Eurasian integration. In 2017, trade in agricultural products between the EEU countries grew by 63% compared to 2010, when the Customs Union was created, and the volume of trade amounted to $ 8.2 billion. Meanwhile, the export of food products to third countries outside the EEU grew in half.

On the results of 2017, the growth of exports of agricultural goods and foodstuffs in the EEU countries was registered for $ 3.6 billion and reached a level of $ 20.6 billion compared to 2016.

Growth is more than expected. Economic growth of Kyrgyzstan in 2017 exceeded expectations. Prime Minister Sapar Isakov noted the leading position of the republic in terms of the growth rate among the countries of the EEU. He said that positive growth rates remain in all sectors of the economy.

He said that today there are big challenges for further improving the living standards of the population, creating new industries and jobs, improving the investment climate and deepening integration within the framework of the Eurasian Economic Union.

"The main goal of the government's policy for 2018 will be to preserve macroeconomic stability by maintaining positive dynamics of economic growth and increasing the competitiveness of the national economy. The priority task of the government will be the effective implementation of the Forty Steps to a New Era program for 2018-2023, which consists of three main areas - ensuring the economic well-being of the population, social welfare, safe and supportive environment, and promoting high-tech projects for digital transformation and building an open and transparent state within the framework of the Program," Isakov said.

Kyrgyzstan’s GDP. On the results of 2017, Kyrgyzstan’s economy grew by 4.5%. Economy Minister of the country Artem Novikov cited such a data aid during a government meeting, where the results of the socio-economic development of the country for 2017 was considered.

He said that economic growth in 2017 was provided by all sectors of the economy, including growth rates in agriculture 2.2%, in construction 7.1%, in services - 2.1% %.

“The main driver of growth was the industrial sector with a real growth rate of 11.8%," he said.

Prospects of the economy. In 2018, the growth of economy of Kyrgyzstan is projected at the level of 3.6%. The Prime Minister of the Kyrgyz Republic Sapar Isakov set up such an indicator at the Cabinet meeting.

"According to the approved forecast, the country's economic growth in 2018 should reach 3.6%. Taking into account the results of 2017, we must maintain stable economic growth and ensure the fulfillment of all the forecast indicators," the Prime Minister summed up.

"The main goal of the policy of the Kyrgyz Government for 2018 will be maintaining macroeconomic stability by maintaining positive dynamics of economic growth and increasing the competitiveness of the national economy," Isakov said.

Kabar News Agency

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