21:06
USD 84.78
EUR 99.84
RUB 1.17

Parliament adopts law on introduction of emergency situation in economy

The Parliament of Kyrgyzstan adopted a bill on the introduction of an emergency situation in the economy for six months.

The initiator of the draft law is the Minister of Economy and Finance Akylbek Japarov.

According to the initiative, an emergency situation in the economy is introduced without the consent of Parliament in the following cases:

  • When prices increased by 3.5 percent compared to last year in the reporting period;
  • When the amount of external debt increased by 10 percent;
  • When the economic components of GDP have decreased by 10 percent over the past three months;
  • When there is a significant reduction in the volume of foreign trade for three months;
  • When the collection of taxes has decreased by 10 percent over the past three months;
  • When there is a deterioration in the investment situation and capital outflow by 20 percent in the last quarter.
Popular