«It was a difficult transitional stage, during which we had to mobilize all available resources to ensure smooth operation,» the Minister of Economy and Commerce of Kyrgyzstan, Daniyar Amangeldiev, said today at a press conference, commenting on the ministry’s work over the past year.
According to him, the country’s economy developed in the post-COVID period, which is also characterized as a situation that has all the signs of restructuring of the world economic system. Globalization is being replaced by protectionism, geopolitical tensions are increasing, prices are rising on the world energy and food markets.
«We, as an open economy, are naturally influenced by these external factors. Nevertheless, our internal potential allowed us to ensure the restoration of economic activity,» Daniyar Amangeldiev said.
He called the achievement of GDP growth the main result of the social and economic development of the republic. Among the main events, the minister also named the introduction of external management at Kumtor, growth of budget revenues, creation of Heritage of Great Nomads Holding, capitalization of commercial banks with state participation — Aiyl Bank and RSK Bank — to improve access to loans.
«In order to curb price growth, we concluded a temporary agreement between suppliers and retail chains to keep the cost of four types of food products at a low level: sunflower oil, first grade flour, granulated sugar and pan bread made from the first grade flour. Temporary regulation of coal prices has been introduced. As a result, the price of local fuel fell by 431 soms per ton on average across the country, and that of imported coal — by 169 soms. A new edition of the Tax Code and the National Development Program of the Kyrgyz Republic until 2026 have been adopted,» Daniyar Amangeldiev concluded.
