The Ministry of Economy told about economic consequences of coronavirus for Kyrgyzstan. The Republican Emergency Response Center reported.
In addition, a decrease in household incomes, a growth of state budget deficit, an increase in spending on implementation of measures to combat coronavirus, and support for entrepreneurs and business entities that have temporarily suspended their activities are expected. There will be an increase in spending on targeted assistance to socially vulnerable segments of the population (low-income families), and stabilization of the economy.
Risk of rising prices and inflation growth also exists.
«Taking into account the state of emergency in some regions of the republic and influence of external factors on the economy, the Ministry of Economy prepared various scenarios. They provide for a reduction in consumption by 5.5 percent, imports — by 11.7 percent, exports — by 4.5 percent, and gross investment — by 3.6 percent. Decrease in remittances and return of part of migrants are possible. So, in January 2020, the net inflow (balance) of remittances from individuals amounted to $ 112.7 million and decreased by 14 percent compared to last year,» the statement says.