According to the results of the first month of 2019, there is a cash surplus in Kyrgyzstan. In other words, the republic spent 1 billion soms less than it earned. And this is taking into account the expenses for the purchase of non-financial assets.
What the state earns on
According to the Central Treasury, in January 2019, budget revenues amounted to 7,05.6 billion soms, taking into account the special funds of budget-funded institutions and grants from the state investment program. Real incomes turned out to be lower than it was planned by 2,177.9 billion soms.
Tax revenues became the main source of replenishment of the treasury. They brought into the budget 5,708.8 billion soms. Including the State Tax Service collected 3,393 billion soms, and the Customs Service — 2,315.7 billion soms.
Non-tax revenues in January 2019 amounted to 1,134.7 billion soms. Including the State Tax Service collected 152.8 million soms, and the proceeds from special funds of budget-funded institutions (for example, payment for provision of services) amounted to 669.7 million soms.
What was the money spent on?
Budget expenditures in January 2019 amounted to 5,793.3 billion soms.
Social protection, education, and general government services account for the largest expenditures. The least amount of money in January was spent on environment protection — 10.9 million soms.
Last year, one of the most expensive items of expenditures was the state debt servicing. However, as of today, the Ministry of Finance has not provided data on budget funds spent in January 2019 on this expenditure item.
At the end of 2018, the state debt of Kyrgyzstan amounted to $ 4,464.35 billion (311,834.67 billion soms). Last year, 23,747.7 billion soms were spent on its servicing.
In addition, the state invested 192.8 million soms in non-financial assets. Including grants and loans under the state investment program amounted to 187.8 million soms.
Surplus in treasury
Not much money was spent in the first month of the year. As a result, there was a surplus of funds in the treasury. In addition, since last year, the government has actively promoted rejection of unnecessary spending, thereby reducing the budget deficit.
According to the results of January 2019, budget revenues exceeded expenditures by 1,019.7 billion soms.
Kyrgyzstan had a hard time last year due to the lack of funds from international donors. In the first month of 2019, the situation has not changed. The country received liabilities for 67.5 million soms, and redeemed them for 409.5 million soms.
As a result, external revenues turned out to be lower than payments on debts by 342 million soms.
But the Ministry of Finance actively and quite successfully borrows the missing funds in the domestic market. From year to year, the volume of placement of government securities only grows. Thus, in the first month of 2019, long-term securities have been issued for 1,068.8 billion soms, and short-term securities — for 47.6 million soms.
Essential help for the budget was the availability of balances in the accounts. It is estimated at 4,841.4 billion soms.
In addition, in January 2019, the repayment of budget loans in the amount of 389.75 million soms was secured. Including 303.59 million soms of the principal debt and 86.15 million soms — interest and fines — have been repaid.
Last year has taught officials not to relax ahead of time. So, the Prime Minister Mukhammedkaly Abylgaziev instructed the Ministry of Finance to take timely measures to improve the quality of monthly cash planning of incomes and expenses and to ensure fulfillment of the planned targets of the republican budget for 2019. The Prime Minister stressed the need to improve the efficiency of budget expenditures and requested an analysis of the feasibility of purchase of goods and services.
