Kyrgyzstan will not receive a previously planned $100-million loan from the Eurasian Fund for Stabilization and Development (EFSD). Its head Andrey Shirokov told journalists about it.
According to him, Kyrgyzstan had problems with the budget last year during the coronavirus pandemic. Therefore, the republic applied to EFSD for a loan of $100 million. The treaty was signed and ratified. But the country could not receive this money due to political events.
“Last year is over. The budget was closed. This year, the country has some problems related to the aftermath of the pandemic, but they are not so significant. Last year, the economy collapsed and GDP contracted. It has grown and quite good this year. A budget surplus was registered at the end of nine months of 2021. This is a great merit of the authorities. Administration has improved significantly, tax and customs revenues have increased. At the same time, the Cabinet keeps expenses under tight control. This led to the surplus. It is planned that it will not be preserved by the end of the year and the budget will eventually be deficit. But at the same time, funds from the stabilization fund may not be needed. The country can cope very well using its own resources,” Andrei Shirokov said. (24.kg/Business World Magazine)
