Kyrgyzstan will enhance the efficiency of banknote issuance and continue to take measures to develop cashless payments. Economic expert Baktybek Shamkeev announced on Birinchi Radio.
He noted that these issues are being addressed not only by the National Bank and the Ministry of Finance, but also by the country’s leadership.
According to Baktybek Shamkeev, for over 30 years, the Kyrgyz Republic has been placing orders for the issuance of documents and banknotes in other countries through tenders. This led to an outflow of funds and created corruption risks. Now, we independently issue some government documents, such as driver’s licenses and passports.
The expert also added that issuing banknotes in Kyrgyzstan certainly reduces costs—savings of up to 30 percent—and, accordingly, funds remain in the treasury.
In the Kyrgyz Republic, work is also underway to develop digital payments, including the introduction of a digital som, the economic expert noted.
President Sadyr Japarov previously announced that the Kyrgyz Republic, for the first time in its history, had begun printing its own national currency, the som.
