USD 84.80
EUR 102.34
RUB 1.12

Number of subsidized districts to be reduced in Kyrgyzstan

Potential of local budgets will be ramped up in Kyrgyzstan. President of the country Sooronbai Jeenbekov said at the High-Level Development Forum «Acceleration of Reforms for Sustainable Development.»

According to him, Kyrgyzstan intends to reform the inter-budget relations, increasing the potential of local budgets. The emphasis will be placed on reducing subsidized districts.

«Supporting twenty cities — growth areas, an important direction will be creation of industrial parks and industrial clusters in them. We will give an impetus to local implementation of promising sustainable projects. Through specialization of each region, we will strengthen their competitiveness in the domestic and foreign markets,» said the head of state.

Sooronbai Jeenbekov noted that there was a full-scale ongoing work on development of the regions, using all internal reserves.

«The Kyrgyz-Russian Fund, Aiyl Bank, and RSK Bank did not pay much attention to the regions before, and 80 percent of their funds are directed to the countryside now. The Guarantee Fund also gives priority to regional projects,» the president said.

The forum is attended by donors. The first meeting of the president with representatives of international organizations and financial institutions took place in 2018.