Kyrgyz President approves state budget for 2017

Yesterday the President of Kyrgyzstan Almazbek Atambayev signed the law on the republican budget of the Kyrgyz Republic for 2017 and the forecast for 2018-2019.

Law approved the budget-2017 with revenues of 126.8 billion soms and expenditures of 150.1 billion. The maximum amount of the state treasury deficit - 23.3 billion soms. The law comes into force on January 1, 2017.

Note, after much debate, deputies adopted the country's budget for next year on November 30.

The President also approved the amendments to the budget in 2016. In accordance with the document, incomes at year-end will amount to 124.8 billion soms. It is 448.2 million more than the original figure.

Budget expenditures will be formed in the amount of 146.8 billion soms, which is 18.3 million more than the previously approved indicator.

The only figure that will decrease for the year is the budget deficit. It is expected to be 22 billion soms, which is less than the previously established amount to 429.9 million.

We also note that this year due to lack of funds the Ministry of Finance was forced to sequester the budget. As a result, spending of the ministries and agencies decreased by 14.9 billion soms.