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IMF tranche scheduled for 2018 may come not in full

Scheduled for 2018, another tranche of the extended loan mechanism from the IMF may come not in full. This is stated in the report of the Accounting Chamber on the results of studying the draft budget of Kyrgyzstan for the next year.

It is noted that, in general, the draft of the country’s main financial document corresponds to the Budget Code. However, the Board notes some shortcomings. So, in the budget there is a surplus of the IMF target of planned expenditures for the articles «Salary» and «Deductions to the Social Fund» by 0.3 percent.

If the target does not change in the framework of negotiations with the IMF, there is a risk that the planned tranche of $ 13 million for 2018 may not be fully implemented.

In addition, the Accounts Chamber noted non-compliance with Article 110 of the Budget Code on the establishment of circulating cash. Article 8 of the draft budget provides for the volume of circulating cash at the level of 150 million soms. But the Budget Code says that this indicator should correspond to a monthly wage fund of 3.7 billion soms.

The revenue and expenditure budget includes funds in the budget of the Compulsory Medical Insurance Fund. Simultaneously, in two bills — on the republican budget and on the budget of the Compulsory Medical Insurance Fund — 1.7 billion soms of revenues from the provision of paid services by healthcare organizations operating under the single payer system are included.