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Energy industry of Kyrgyzstan may get into crisis due to debts

In 2020–2023, the energy industry of Kyrgyzstan has to cover its large debt obligations. Mirgul Aidarova, Deputy Director of the State Agency for Regulation of the Fuel and Energy Complex announced at the meeting of the Committee of the Parliament on the Fuel, Energy Complex and Subsoil Use.

According to her, it is necessary to pay 5 billion soms in 2020, in 2023 — 9.5 billion soms on loans.

«We need to optimize costs. Although expenses have been reduced, and the staff has been reduced back in 2019 to 3,000 people,» Mirgul Aidarova said.

The state agency proposes to impose a moratorium on loans before paying off the current debts.

According to her, the losses of energy distribution companies amounted to 19.9 percent in 2019.