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Economic Week of Kyrgyzstan – Oct. 8-13, 2018

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Funds from abroad. Since 1992, Kyrgyzstan has received loans and grants totaling $ 10 billion.

According to data of Finance Minister Adylbek Kasymaliev, 72% of them are loans, 22% are grants.

“The main creditors of Kyrgyzstan are China, the Asian Development Bank, the World Bank and Russia. The main part of the financial resources was directed: the road - 25%, energy - 21%, budget support - 27%, agriculture - 6%,” Kasymaliev said.

Approved projects. As of October 1, 2018, the Russian-Kyrgyz Development Fund (RKDF) approved 1,566 projects totaling $ 283.5 million.

According to data of the RKDF, 23.6% of the funds were directed to the agro-industrial complex, 31.5% to the sphere of production, 11.6% to the sphere of infrastructure development.

In addition, 12.5% ​​for transport and logistics, 12% - tourism, other expenses, including bank limits - 6.7%, communications and IT - 1.7%, financial activities - 0.5%.

The most of the projects were implemented in Karakol - 330 projects. Bishkek ranks second - 299 projects, Osh - 283, Jalal-Abad - 199. The Fund financed the smallest number of projects in Talas - 39.

Growth. The volume of gross domestic product of Kyrgyzstan for 9 months of 2018 amounted to 368 billion soms.

According to a preliminary assessment of the specialists of the National Statistics Committee of the Kyrgyz Republic, the achieved figure speaks of its growth by 1.2% compared to the same period last year.

Without Kumtor development enterprises, the volume of GDP in the first nine months amounted to 336 billion soms and increased by 2.4%.

It is worth noting that according to the Committee’s calculations for the previous 8 months, there was a negative trend in the formation of economic indicators in the country, which was noted in connection with a decrease in the output of heavy industry.

Due to what growth? Since the beginning of 2018, the volume of industrial production in Kyrgyzstan amounted to 167 billion 981.6 million soms.

According to preliminary estimates of the National Statistics Committee, compared with the same period last year, the figure decreased by 4.7%.

“The decline in industrial production in January-September 2018 was due to a decrease in the extraction of metal ores by 65.9%, as well as a decrease in the production of precious metals by 8.9%,” said Azamat Orozbaev, deputy head of the National Statistics Committee.

Excluding enterprises developing Kumtor, the volume of production, as shown by preliminary calculations, increased by 1.6%.

The price of housing. The weighted average price per square meter of housing in September In Bishkek was $ 779, in Osh - $ 462.

According to the State Registration Service, compared to the beginning of 2018, the price per square meter of apartments in Bishkek increased by 1.19%, in Osh - by 2.66%.

As a rule, during the summer holidays traditionally there is a temporary lull in the real estate market. However, ambiguous behavior of the real estate market is observed in the cities of Bishkek and Osh.

Oil products in KG. The trend of growth in the output of processed oil continues In the industrial sector of Kyrgyzstan.

According to data of the National Statistics Committee of the Kyrgyz Republic, for the nine months of the current year, in total, petroleum products were produced in the country in the amount of 11 billion 342 million 648 thousand soms.

For 8 months of this year, the growth rate was 34.9%, and for 9 months - 28.7%. In total, there are currently four enterprises in the country engaged in this type of production: Kyrgyz Petroleum Company CJSC, oil refineries in Jalal-Abad, Kemin and Kara-Balta.

Less gold exportation. In Kyrgyzstan, for the first 9 months of this year, exports of gold decreased by 25.2%.

According to data of the National Statistics Committee of the Kyrgyz Republic, the share of the gold industry in the total gross domestic product (GDP) for the period from January to September 2018 was 8.8%. Its share in the industrial sector, as shown by the preliminary calculations of the committee, was 35.9%.

At the same time, the share of exported gold in the total volume of export deliveries for this period decreased from 39.5% to 31.1%. The decline in indicators is due to changes in the structure of production in the gold mining industry: if before gold was exported from the country only as ore, then recently the precious metal became mainly exported as concentrates, which makes the difference between the previous and current production figures.

Where more profit. There was a decrease in Kyrgyzstan, from January to August, in the wages of workers in the hotel and restaurant business.

According to the National Statistics Committee of the Kyrgyz Republic, the decline in the amount of earnings in these areas for 8 months was 9.4%. The increase in professional income was observed in:

- The construction sector by 16.2%;

- The service sphere by 15.5%;

- The sphere of information and communication by 14.6%;

- The spheres of government, defense and compulsory social security by 12.4%;

- The sphere of wholesale and retail trade, repair of cars and motorcycles by 9.8%;

- Real estate sphere by 9%;

- Scientific and technical areas by 8.9%.

Work with WB. Kyrgyz Economy Minister Oleg Pankratov met with Sandip Mahajan, Global Practice Manager for Macroeconomics, Trade and Investments of the World Bank.

The main objectives of the mission are to familiarize with macroeconomic processes in the Kyrgyz Republic, economic reforms and strategic documents, as well as inform about the progress of work in the framework of the Operation in support of development policies in the field of economic management.

The issues of cooperation with the World Bank, in particular, proposals for the provision of technical assistance by the World Bank, recent trends in the economic sector, reforms in the economy, measures to improve the quality of public investment, etc were discussed at the meeting.

National debt of the Kyrgyz Republic. The internal and external debt of Kyrgyzstan as of August 31, 2018 amounted to $ 4 billion 395.02 million.

According to data of Minister of Finance of the Kyrgyz Republic Aldylbek Kasymaliev, the volume of external debt to GDP was 56.4%, including 86.4% or $ 3 billion 797.38 million external debt of the country.

At the same time, chairman of the Accounts Chamber of the Kyrgyz Republic, Ulukbek Maripov, identified the problematic issues identified during the last audit on foreign debt. Firstly, there is no specially fixed method for calculating external debt, as well as statistical calculation. According to this, the last audit revealed violations of 637 million soms.

Kabar News Agency

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