Abylgaziev: The budget policy is aimed at the development of regions

Bishkek, Nov. 12, 2018. /Kabar/. “Despite the limited resources, the budget policy is aimed at the development of regions and ensuring sustainable economic growth,” Prime Minister Muhammedkaliy Abylgaziyev told when considering the draft Law on the Republican Budget of the Kyrgyz Republic for 2019 and Forecast for 2020-2021 during the meeting of the Committee on Budget and Finance of the Jogorku Kenesh (Kyrgyz Parliament).

The press service of the Government of the Kyrgyz Republic reported Abylgaziev noted that the draft law was developed taking into account the priorities of the National Sustainable Development Strategy for 2018-2040, the Decree of the President of the Kyrgyz Republic on Declaring 2018 the Year of Regional Development and the program of the Government of the Kyrgyz Republic “Unity. Trust. Creation”.

The Prime Minister stressed that all expenses in 2019 will be covered from domestic sources.

“Foreign loans and grants will be attracted in order to implement investment projects. This is due to the stabilization of foreign debt and the direction of foreign aid to projects that stimulate the growth of the domestic economy,” Abylgaziev said.

He said thst the government will direct efforts to introduce new tools to stimulate fiscal and economic administration in the following areas:

- processing of agricultural products;

- textiles and clothing manufacture;

- tourism and ecology;

- innovative technologies;

- support for small and medium businesses;

- stimulation of self-employment of the population.

Abylgaziev noted that, jointly with the Jogorku Kenesh, work will be carried out on the adoption of the Fiscal Policy Concept for medium term, which will provide basic guidelines for the development of the tax system and tax administration.

“The goal of introducing fiscalization of tax procedures is to reduce the shadow economy, increase competition, support conscientious taxpayers, protect consumers from counterfeit products, improve digital public services and create a stable budget revenue system,” Abylgaziev said.