USD 84.71
EUR 100.66
RUB 1.16

Government of Kyrgyzstan: The year will be difficult for country's economy

Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev admitted that huge losses are expected in the country’s budget. He stated it today at a meeting of the parliamentary majority coalition during consideration of the Government’s report.

The head of the Cabinet of Ministers noted that government forecasts are disappointing.

«We will not hide; the situation is difficult. If we talk about the budget, then, according to forecasts, customs fees will go negative by 12-13 billion soms, and tax fees — by 15 billion soms. The budget will be adjusted. We are looking for other sources of income, negotiations are underway with international organizations,» Mukhammedkaly Abylgaziev said.

But despite this, we will pay all social expenses.

Mukhammedkaly Abylgaziev

According to the Prime Minister, the Cabinet will take all measures to support the private sector and preserve jobs.

«We are doing analysis on loans. About 900,000 individuals and legal entities received loans. We sort them into categories and analyze what assistance the government can provide to them and what — commercial banks. We need time,» the Prime Minister said.