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Budget deficit in Kyrgyzstan to reach 9 billion soms in 2022

Budget deficit is expected to reach 9 billion soms in 2022. The First Deputy Minister of Economy and Finance of Kyrgyzstan Almaz Baketayev announced today at a public hearing of the draft republican budget for 2022 and forecast for 2023-2024.

According to him, the total revenues of the republican budget, taking into account state investment grants in 2022, are planned in the amount of 203,563.5 billion soms, or 28.5 percent of GDP. Compared to 2021, revenues will grow by 17.7 percent, or by 30.6 billion soms.

«The total volume of expenditures of the republican budget for 2022, excluding financial assets, is set at 212,685.2 billion soms. Taking into account financial assets, the total amount of expenses is set at 230,882.3 billion soms. To date, tax revenues cover the protected expenditure items,» Almaz Baketayev said.

At the same time, he noted that a budget surplus is expected by 2024. It will be spent on servicing external and internal debt. The peak of payments is expected during this period.

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