Outflow of capital in January-September 2016 reached $161.3 million, the Minister of Economy Arzybek Kozhoshev said at a government meeting.
According to him, economic decline and inflation in the countries – main trade partners (Russia, Belarus and Kazakhstan), were among the negative factors that affected the economy of Kyrgyzstan in 2016. In particular, inflation in Kazakhstan was 8.5%, in Russia – 5.4%.
Dependence of the domestic market on imported products also had its impact on the situation in Kyrgyzstan. Volatility of crude oil prices played a negative role as well.
Increase in remittances by 20.9% had a positive effect on the economy. In addition, in 2016 the price of gold grew by 8%. And there was no registered negative impact on domestic prices from world food markets. (24.kg/Business World Magazine)
