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Kyrgyzstan still has high percentage of borrowings for consumer needs

For 9 months of 2018, microcredit companies of Kyrgyzstan have issued 16.6 billion soms of loans. At least 340,700 people received them. The National Statistical Committee reported.

According to the agency, compared to the same period in 2017, the number of borrowers increased by 58.7 percent (126,000 people). The volume of issued microloans increased by 4.4 billion soms.

Most of the microcredits (31.4 percent) in 2018 were taken by Kyrgyzstanis for the development of activities in agriculture, 23.5 percent took loans for consumer needs, other 14.9 percent — for the development of activity in consumer services sphere.

Most microcredits were issued to residents of Osh (22.5 percent), Jalal-Abad (16.5), Chui (13.2) regions and Bishkek (12.5).

As of October 1, 2018, citizens owe microcredit companies 15.4 billion soms. Repayment of credits for 9 months amounted to 94.2 percent. For a year, it reduced by 0.1 percent.

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