USD 87.99
EUR 95.37
RUB 0.97

Kyrgyzstan should limit budget deficit to 2.5 percent of GDP by 2020

Kyrgyz authorities should limit the budget deficit in 2020 to a level of 2.5 percent of GDP, taking into account the expenditures of energy companies. The head of the mission of the International Monetary Fund, Christian Josz, told journalists.

Loans that are provided to companies in the energy sector should be included in the budget deficit. If expenses on energy companies make up 1 percent of GDP, then the deficit should not exceed 1.5 percent of GDP.

«We do not foresee an increase in state debt in the next six years if the government keeps the size of the deficit within 3 percent of GDP. If any replacement for Kumtor is found, then the size of the debt will remain stable. If no replacement for Kumtor is found by 2023, there may be risks of debt sustainability,» Christian Josz stressed.