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Insurance premium rates to be reduced in Kyrgyzstan

President of Kyrgyzstan Sadyr Japarov signed a decree on providing support to small and medium-sized businesses. Presidential press service reported.

In order to further support small and medium-sized businesses in Kyrgyzstan and their withdrawal from the unobserved sector of the economy, the Cabinet of Ministers is instructed to reduce insurance premium rates for small and medium-sized businesses from 27.25 percent to 22 and 14 percent within two months, depending on the number of employees and accrued wages for a period of three years — from 2022 to 2024; to submit draft normative legal acts necessary for implementation of this decree to the Parliament for consideration.