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National Bank of Kyrgyzstan replenishes budget ahead of schedule twice

Over the past year, the National Bank of Kyrgyzstan has transferred part of its profits to the budget ahead of schedule twice. The National Bank confirmed this information to 24.kg news agency.

By the end of 2020, the National Bank received a net profit of 8,484,800,000 soms. At least 90 percent, or 7.3 billion soms, were to be transferred to the budget, but the bank began to transfer money before the end of the year. The first early payment was made in December 2020.

Then the National Bank of the Kyrgyz Republic transferred 2 billion soms in connection with the pandemic and the deficit of the republican budget.

In August 2021, the profit of the National Bank was again partially transferred to the republican budget. Answering the questions of the deputies before leaving the post of the head of the bank, Tolkunbek Abdygulov voiced the amount of 2.5 billion soms.

«The profit was transferred ahead of schedule, given the fact that in 2021 there was an unfavorable situation in the republic associated with abnormal drought and low water. There was also an unfavorable epidemiological situation with a repeated outbreak of coronavirus infection. In addition, the provisions of the norms of Article 11 of the Code on non-tax revenues allow transferring them both in full and in parts,» the National Bank said.

At the same time, from 1992 to 2019, the profit of the National Bank was not partially transferred.