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Kyrgyzstan's external debt grows, but officials manage it inefficiently

Deputy Ruslan Kazakbaev is sure that Kyrgyzstan’s external debt is growing, but it is not being managed effectively. He stated this today at the session of the Parliament.

According to him, in the conditions of transition to market relations, Kyrgyzstan needed external assistance. First of all, the money was spent on support of the budget. For these purposes, more than $2.6 billion, or 28 percent, have been allocated from total external assistance. At the expense of the donor funds, Kyrgyzstan switched to a market economy, solved many social problems, and carried out reforms.

«Today we can say that Kyrgyzstan has achieved certain results through external assistance. But, despite the significant increase in attracted assistance, we must actively work on the implementation of projects that bring real incomes to the budget. We have problems with managing the national debt — the lack of analysis of the effectiveness of attracting help, monitoring over the use of the funds. Over the past four years, public debt has grown by $797 million, only for 11 months of 2017 — by $379.3 million. The government should provide for a set of measures for the effective management of public debt,» Ruslan Kazakbaev stressed.