Kyrgyzstan’s economic week – March 5-17, 2018

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Contribution to budget. Eti Bakir Terek-Say - an enterprise developing a group of Terek, Terekkan and Perevalnoye fields, paid in 2017 the country's budget over 82 million soms. According to data of Kyrgyzaltyn, 37.6 million soms of them are taxes and fees, 35.7 million soms – fees to the Social Fund of the Kyrgyz Republic and 8.7 million - customs duties and duties.

Within the framework of the social package for 2016-2017, the company fulfilled the asphalting of roads with the length of 5.8 km, rendered assistance to victims of the fire in constructing new houses. In addition, provided sponsorship for a total of 6.5 million soms.

The company provides assistance to the local population in emergency situations by providing necessary special equipment. Eti Bakir Terek-Say allocated transport for transportation of schoolchildren and local residents between the villages of Terek-Sai, Ak-Terek, Eshaly-Bolush.

GDP in 2017. The National Statistics Committee of the Kyrgyz Republic completed the final calculations of the gross domestic product for 2017. GDP in 2017 amounted to about 521 billion soms and increased by 4.6% compared to 2016. Without taking into account the enterprises for the development of the Kumtor field, real GDP growth made 4.7%.

Previously, the National Statistics Committee reported that GDP in 2017 was 493 billion som and compared to 2016 increased by 4.5%.

Turkish flow. The trade turnover between Kyrgyzstan and Turkey in 2017 amounted to $ 356 million and increased by 26.7%. At the same time, the indicators of both exports and imports increased, Minister of Economy of the Kyrgyz Republic Artem Novikov cited such data at the meeting with Turkish Ambassador Kamil Cengiz Firat.

The Turkish Ambassador said during the meeting that a number of large Turkish companies are ready to invest in the economy of Kyrgyzstan. "There are five companies that want to invest in the mining industry. And also TIKA is ready to invest in regional projects, since 2018 was declared the Year of Development of Regions by the President of the Kyrgyz Republic," Kamil Cengiz Firat said.

Raising literacy. The financial literacy of the population is increasing in Kyrgyzstan. According Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov said that in 2016 the State program on increasing the financial literacy of the population was adopted.

"The program is designed for short-term and long-term implementation. Short-term is the holding of the World Money Week. It is useful for all segments of the population. But this is only for a week. Long-term work is aimed at introducing in the schools a course on increasing financial literacy and the basics of literacy. We are working on this issue with the Ministry of Education and Science," he said.

Flanders and commerce. Kyrgyzstan and one of the regions of Belgium - Flanders agreed to increase trade.

Taking into account the wide independent powers of Flanders, within the framework of the meeting of Ambassador of the Kyrgyz Republic in Belgium Asein Isaev and Minister-President of Flanders Gert Bourgeois the possibilities of both economic cooperation and bilateral cooperation in the field of international relations and culture were discussed.

Possessing the potential of the largest logistics center in Europe, the leadership of Flanders highlighted the potential of Kyrgyzstan as part of the Great Silk Road.

GDP growth in 2018. The volume of gross domestic product for the period from January to February of 2018, according to preliminary estimates, amounted to more than 59 billion soms. According to data of the National Statistics Committee of the Kyrgyz Republic, this indicator increased by 2.7% compared to the same period of the previous year. Without taking into account the enterprises for the development of the Kumtor field, the volume of GDP was 53 billion soms and increased by 3.3%.

"The volume of industrial output was about 36 billion soms, and in comparison with the corresponding period last year increased by 5.4%. The growth in industrial production was due to an increase in output in textile production (by 2.3 times), clothing (by 44.6%), rubber and plastic products, other non-metallic mineral products (by 36.5%) and petroleum products 25.8%)," the report said.

Inflation in the Kyrgyz Republic. The inflation rate in the consumer sector, according to calculation of the National Statistics Committee of the Kyrgyz Republic, at the beginning of 2018 was 1.4%. At the same time, prices increased significantly for fresh vegetables (10.4%), apples (7.1%), potatoes (4.9%) and draft milk (3.1%).

At the same time, the prices lowered for buckwheat groats (by 6.7%), biscuits (by 2.1%), sugar (by 2%), fish (by 1.9%), beef (on 1.6%), confectionery products (by 1.1%), vegetable oils (by 0.7%) and flour (by 0.5%).

Slow export growth to China. Import from China to Kyrgyzstan in 2017 amounted to $ 1.5 billion. According to data of Chinese Ambassador to Kyrgyzstan Xiao Qinghua, the total trade between China and Kyrgyzstan in 2017 amounted to $ 1 billion 591 million and grew by 3.2% compared to 2016.

"Kyrgyzstan's exports to China amounted to $ 97.5 million and grew by 21.7%. It can be seen that the growth of exports from the Kyrgyz Republic to China began to grow," he said.

Kabar News Agency

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