Kyrgyzstan's economic week Jan. 6 -13, 2018

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Tax Campaign. The State Tax Service of the Kyrgyz Republic launched a campaign to receive the Unified Tax Declaration for 2017.

The next tax declaration campaign, which starts annually from the beginning of the year, will be held in two stages: till 1 March - legal entities and till 1 April - individuals must report to the tax authorities on the income received for the previous year, as well as provide information on economic activities, property and land.

Services, taxes and investments. The largest share in the structure of GDP in Kyrgyzstan in 2017 is accounted for the service industry. According to data of the National Statistics Committee of the Kyrgyz Republic, the GDP in 2017 totaled 493 billion soms and increased by 4.5% compared to the same period of the last year.

The volume of investments in the fixed capital of Kyrgyzstan for 11 months of 2017 amounted to 145 billion soms, which is 6.2% more than the figures for the same period in 2016. According to data of the National Statistics Committee of the Kyrgyz Republic, there was an increase of capital investments from domestic sources of financing.

"The volume of investments in fixed assets increased by 10% (from 6.2%) due to domestic sources, and by 1.5% - due to external investments. The main volume - about 72% of investments was directed to the construction of facilities for the extraction of minerals, provision and supply of electricity, gas, steam and air conditioning, transport and construction of residential facilities," head of the National Statistics Committee A. Sultanov explained.

Trade with EEU. The volume of Kyrgyzstan’s mutual trade with member states of the Eurasian Economic Union (EEU) exceeded $ 2 million in 11 months of 2017, which is for 14.3% more than in 2016.

At that the export of goods increased by 25.7%, and the import - by 11.2%. The largest share of the county’s mutual trade with the EEU member states belong to Russia (59.4%) and Kazakhstan (36.6%).

"Kyrgyzstan increased its export goods of knitted clothes, dried fruits, butter, onions and garlic to Russia. At the same time, export of bean vegetables and incandescent lamps decreased," head of the National Statistics Committee Sultanov said.

In the import of goods from Russia, poultry meat and by-products, tires for vehicles, flour confectionery, chocolate and other food products increased. Along with this, the NSC chairman stressed that the import of pipes and profiles, paints and varnishes, as well as medicines decreased.

The cost of living in Kyrgyzstan. The cost of living in Kyrgyzstan on the results of 2017 in average made 4 thousand 979 soms and compared with last year has increased by 2.2% or 106.5 soms.

Over the period from 2010 to 2016, there was an annual increase in the minimum cost of living. There were only two exceptions in 2012 and 2016, when the minimum living wage decreased.

Thus, the minimum cost of living for working age people in average consist of 5,479 soms, for pensioners - 5 thousand 392 soms, for children under 7 years - 3,658 soms, from 7 to 14 years - 4 thousand 325 and for children from 14 to 17 years old 4 thousand 710 soms.

2018 Civil Budget. The Ministry of Finance of the Kyrgyz Republic has developed the Civil Budget of 2018 in a new expanded format to increase the transparency and availability of basic budget information.

This document is a civil version of the Law of the Kyrgyz Republic "On the republican budget of the KR for 2018 and the forecast for 2019-2020" and prepared to widely familiarize citizens with the budget and budget process.

The new Civil Budget for 2018 broadens the list of terms and concepts used in the document, describes in more detail the main normative legal acts that regulate the budgetary process, provides the structure of the budgetary system of the Kyrgyz Republic, as well as provides information on the main participants of the budget process and their main functional responsibilities.

For the first time a schedule is given for the formation of the republican budget, i.e. budget calendar with the deadline for the implementation of the main activities for the formation of budget documents.

Investments from UK. In 2017, the volume of investments in the economy of Kyrgyzstan from the UK increased by 44 times compared with 2016.

"The UK is one of the major investor-countries, and the volume of foreign direct investments from the UK for the first 9 months of 2017 amounted to more than $ 27.6 million and increased compared to the same period in 2016 by 44 times," Minister of Economy of Kyrgyzstan Novikov said at a meeting with UK Ambassador to Kyrgyzstan Robin Ord-Smith.

The UK Ambassador said that "there were positive steps in our relations last year, and our task is to increase our relations not only in the economic sphere, but also in other areas."

The diplomat added that there is potential for development of trade and investment cooperation between the countries.

Kabar News Agency


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