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Country's economy to recover quickly after quarantine is lifted, expert believes

Kyrgyzstan’s economy will recover quickly after quarantine is lifted, said Mikhail Khalitov, President of the Mountain Cluster Association. He shared his opinion with 24.kg news agency.

«In order to make forecasts in the economy, thorough calculations are needed. These are physical volumes, cost, prices, and so on. If these calculations are made according to the norms, then there will be nothing catastrophic with the economy of Kyrgyzstan. Because the model that has developed in the republic does not depend on external shocks, on the state and its policies,» the expert said.

In his opinion, after lifting restrictive measures in connection with the spread of coronavirus, the country’s economy will quickly return to normal and there should be no problems.

«Another question: do we need such a casual model in the future? The current situation has shown that it has exhausted itself, has reached the limit of growth, it does not make our state competitive,» Mikhail Khalitov said.

He believes that the principle of building long-term plans is also outdated, because any program requires constant analysis and adjustment.

«What do we see now? Someone decided to replace the economy with business, with the market 30 years ago, believing that they will get us out. But in the end, we are dependent on re-export schemes, on energy suppliers, we are financing not our economy, but of other countries,» the expert noted.

As measures to support the economy, he believes, it is necessary to pay attention to the regulatory framework governing it.

«Our legislation has not even a definition of what small business, medium or large is. Whom to support? Trading networks? License holders? Why should we disperse already scarce resources of the state received from donors as bonuses for those who practically do not contribute to the state?» Mikhail Khalitov asked.