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International Monetary Fund. Middle East and Central Asia Dept.

projects for that period. Taking into account the fact that the implementation of the Kyrgyz Republic 2013-2017 National Sustainable Development Strategy requires a real administration tool for the next five years, the Kyrgyz Republic government has decided to develop the Kyrgyz Republic Sustainable Development Program 2013-2017. These five years will be the Kyrgyzstan’s first stage of transition to the new sustainable development model. It was the first time in the country’s post-soviet history, that its government made an unconventional decision to revive the five

International Monetary Fund. Middle East and Central Asia Dept.

actually present in years 2008 through 2012, the national budget income was 26.9% of GDP that is 4.6% higher the level of years 2004-2008. The national budget expenditure in 2008-2012 were growing annually by 24.7% as average and reached 35.2% of GDP in 2012. The total volume of external financing for the State Investment Program reached 5.1% of GDP by 2012. The budget deficit, with account of the State Investment Program, was 3.4% of GDP as average in 2008-2012. Thus, the Kyrgyz Republic government succeeded in ensuring the fulfillment of one of the most macroeconomic

International Monetary Fund. Middle East and Central Asia Dept.
This Poverty Reduction Strategy Paper on Kyrgyz Republic highlights that the period 2009 through filled with symbolic events marked a new milestone in the Kyrgyz Republic development and will enter the country’s history as the period of strength test for the Kyrgyz statehood and entire public administration system including socio-political, economic, environmental, financial and other areas of development management. The country development background during that period included the world financial crisis and growing uncertainty on world markets which created risks for all market actors including the Kyrgyzstan’s key trade partners such as Russia, Kazakhstan, and China. The government officially declared the country’s sustainable development-oriented policy. For Kyrgyzstan as a country with its still high poverty level, particularly in rural areas, and limited natural and financial resources, the sustainable development policy seems today’s logically and politically justified choice. The sustainable development model itself suggests striving for systemic, comprehensiveness, and balance in development. Transition to sustainable development suggests considering economic growth through the prism of human values and reasonable use of natural resources.
International Monetary Fund. Middle East and Central Asia Dept.

corruption. References Artyom Zozulinsky , Kyrgyzstan: Power Generation and Transmission , U.S. Embassy Bishkek , October 2010 . Benedict Clements and others, Energy Subsidy Reform Lessons and Implications , IMF , 2013 . Farkhod Aminjonov , Limitations of the Central Asian Energy Security Policy: Priorities and Prospects for Improvement , Centre for International Governance Innovation Papers No. 103 , May 2016 . IMF, Fiscal Affairs Department , Kyrgyz Republic: Government Subsidies Review Energy Subsidy and Social

International Monetary Fund. Middle East and Central Asia Dept.

National Statistics Committee Government Finance Statistics October 23–27, 2018 Ministry of Finance National Accounts EDDI2 November 12–23, 2018 National Statistics Committee External Sector Statistics June 24-July 5, 2019 National Bank of the Kyrgyz Republic Government Finance Statistics May 20–24, 2019 Ministry of Finance Government Finance Statistics September 30-October 11,2019 Ministry of Finance Government Finance Statistics April 26-May 7, 2021 Ministry of Finance List of

Ivailo Izvorski and Emine Gürgen

receive supplemental in-kind income and services such as housing and child care from their primary employers (up to 20 percent of the base wage in the Kyrgyz Republic). Government employees often have very generous leave allowances. Moreover, incomes continue to be augmented in all five Central Asian states by consumer subsidies on basic food staples as well as utilities and transportation. For example, in late 1997, direct food subsidies in Turkmenistan accounted for more than 15 percent of the average wage, while total consumer subsidies were estimated to be

International Monetary Fund

Bank of the Kyrgyz Republic Bank Supervision and Regulation February 23-March 8, 2005, May 18-28, 2005, July 17-28, 2005, October 02-13, 2005, January 15-26, 2006, February 12-23, 2006, March 20-30, 2006 National Bank of the Kyrgyz Republic FSAP update September 5-15, 2005 October 10-23, 2006 National Bank of the Kyrgyz Republic AML/CFT April 19-25, 2006 National Bank of the Kyrgyz Republic Government Securities/Money Markets August 25-30, 2006 June 25-July 5, 2007 National Bank of the Kyrgyz Republic LEG Update

International Monetary Fund

October 18–27, 2005, February 20–March 5, 2006 National Bank of the Kyrgyz Republic Bank Supervision and Regulation February 23–March 8, 2005, May 18–28, 2005, July 17–28, 2005, October 02–13, 2005, January 15–26, 2006, February 12–23, 2006, March 20–30, 2006 National Bank of the Kyrgyz Republic FSAP update September 4–15, 2005 National Bank of the Kyrgyz Republic AML/CFT April 19–25, 2006 National Bank of the Kyrgyz Republic Government Securities/Money Markets August 25–30, 2006 National Bank of the Kyrgyz Republic

International Monetary Fund

Republic Government Securities/Money Markets August 25–30, 2006 National Bank of the Kyrgyz Republic LEG Update of the AML/CFT Legislation (jointly with MFD) February 5–11, 2004 National Bank of the Kyrgyz Republic Review of Bank Legislation March 1–4, 2004 April 26–May 6, 2004 National Bank of the Kyrgyz Republic Review of Tax Legislation July 27–August 5, 2004 Ministry of finance Assisting in drafting Tax Code December 4–10, 2005 Prime minister’s office STA SDDS Subscription January 28–February 5

International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper identifies constraints to economic growth in the Kyrgyz Republic, using the Hausmann-Velasco-Rodrik diagnostic approach. It finds that large infrastructure gaps, weak governance and rule of law, and high cost of finance appear to be the most binding constraints to private investment and growth. Additional critical factors are the quality of education and onerous regulations. There is room to improve both the quality and cost/efficiency of education spending. Although relatively low, labor costs have exceeded productivity growth and there is room to improve labor market efficiency. Despite important investments, the infrastructure gap remains large and the country ranks relatively low on infrastructure quality. Weak governance undermines growth through various channels: investment, human capital, and productivity. Weak institutions increase the cost of doing business and make the appropriation of investment returns less certain, overall reducing investor’s risk appetite to invest. Public debt is on the high side and the composition of spending is tilted toward current spending.