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Kyrgyzstan in EEU: adaptation continues with visible results

Today, the Vice Prime Minister of Kyrgyzstan Oleg Pankratov summed up the preliminary results of the 2nd anniversary of Kyrgyzstan as a member of the Eurasian Economic Union. He is sure that the country’s adaptation to the new conditions continues, but the first results are already obvious.

According to Oleg Pankratov, Kyrgyzstan continues to undergo an adaptation period. Last year, our partners had a crisis in certain sectors of the economy, which could not but affect the performance of Kyrgyzstan. However, the first half of 2017 already provides an opportunity to see the effect of the republic’s course on Eurasian integration.

According to the results of the first half of the year, the volume of GDP was 193.9 billion soms and increased by 6.4 percent. Industrial production, excluding Kumtor, increased by 19.7 percent.

«Food production grew by 10.3 percent, processing of fruits and vegetables — 1.8 times, flour — by 30.4 percent, dairy products — by 20.4 percent, clothes — by 30.6 percent. The export situation is quite encouraging. In May, excluding gold, it grew by 23.4 percent. At the same time, imports also grew, but more slowly, by 10.9 percent. This indicates that our products are competitive. They are not so much being squeezed out from the internal market and at the same time successfully compete on EEU markets, they find their niche there," Oleg Pankratov said.

At the same time, he added that the time interval was simply unavoidable for the adaptation of the national economy to the conditions of the Union. Now we need to further disclose the existing potential, and the government is ready to make efforts for this.