Capital outflow continues in Kyrgyzstan

Outflow of capital in the first nine months of 2016 reached $ 161.3 million in Kyrgyzstan. The Minister of Economy Arzybek Kozhoshev said today at a government meeting.

According to him, economic decline and inflation in the countries - main trade partners- Russia, Belarus and Kazakhstan, are among the negative factors that affected the economy of Kyrgyzstan in 2016. In particular, inflation in Kazakhstan was 8.5 percent, in Russia - 5.4 percent.

 Dependence of the domestic market on imported products also had it impact on the situation in Kyrgyzstan. Volatility of crude oil prices also played a negative role there.

Increase in remittances by 20.9 percent had a positive effect on the economy. In addition, in 2016 the price of gold grew by 8 percent. And there was no registered negative impact on domestic prices from world food markets.