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…
Despite the establishment of industries, Kyrgyzstan continues to process only 15% of agricultural production, the Minister of Economy Arzybek Kozhoshev said at a government meeting. During 11 months of 2016 the volume of foreign trade of Kyrgyzstan decreased by 0.5% YoY. Exports amounted to $1.6 billion and decreased by 1.5%. Imports remained at the level…
At least 703 families got preferential mortgage loans under Affordable Housing program in Kyrgyzstan in 2016, First Deputy Prime Minister Mukhammetkaliy Abulgaziev said at a government session. According to him, the volume of lending amounted to 822 million soms. At the same time, the state mortgage loan rates decreased from 12% to 10%. At present,…
Ministry of Economy of Kyrgyzstan has agreed to revise the country’s Tax Code after criticism of businessmen. Minister of Economy Arzybek Kozhoshev said that the Tax Code had technical errors. In 2015, a group was formed, which worked on a new version of the Tax Code. The Ministry of Economy noted that the current version…
Profit of gold refinery of Kyrgyzaltyn JSC in Kara-Balta on the results of 2016 has grown by half. Profit of the refinery in 2016 amounted to 132.5 million soms, up by 84.1 million soms YoY. In 2012-2015, profit of the gold refinery did not exceed 80 million soms. Volume of refinery’s output also increased by…
Over the past three years, the European Bank for Reconstruction and Development (EBRD) has invested about $300 million into Kyrgyzstan, EBRD Regional Director for Central Asia Neil McCain said at a meeting with Prime Minister of the Kyrgyz Republic Sooronbay Jeenbekov. The bank finances projects in the field of improving the municipal infrastructure, such as…
“Best Exporter” national competition will be held in Kyrgyzstan in 2017, Information Support Department of the government’s executive office reported. The decision to hold the competition was signed by the Prime Minister Sooronbay Jeenbekov. Competition is aimed at increasing export potential of the country, development of the industrial, tourism and agricultural complexes, stimulation of the…