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Republican budget for 2018 adopted in first reading

The law On the republican budget of the Kyrgyz Republic for 2018 and the forecast for 2019-2020 was adopted yesterday in the first reading.

All 100 registered deputies voted for it.

The revenues of the republican budget in 2018 will amount to 142.6 billion soms, or 26.5 percent of GDP. In comparison with the budget of 2017, they will grow by 15.7 billion. At the same time, tax revenues will amount to 106 billion soms, and non-tax revenues — 21.9 billion.

The total volume of expenditures of the republican budget is expected at the level of 162.8 billion soms (30.3 percent of GDP). Compared to the current year, expenditures will grow by 12.7 billion.

In 2018 the GDP per capita will be $ 1,240.3. The average monthly salary is 16,577.8, and the subsistence minimum is 5,185.4 soms.

Budget 2018 remains socially focused. The lion’s share of expenditures (82.2 billion soms) falls on the social sphere. The most significant expenditure (33.2 billion) — on social protection.

The deputies also approved the report on the execution of the republican budget of the KR for 2016 and amended the budget for 2017.

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