Bishkek, July 14, 2022. /Kabar/. The Cabinet of Ministers strictly controls the size of public external debt, Chairman of the Cabinet Akylbek Zhaparov said during an expanded meeting of the Cabinet on Thursday.
He added that in 2020, the amount of external debt increased by $367 million, while in 2021 it increased by only $75.6 million.
"Since 1992, the Kyrgyz Republic has received $8.3 billion in loans and $3.5 billion in grants - a total of $11.9 billion. Since the 1990s, that's the amount of money that has been withdrawn from the Kumtor mine. Thus, our work at the mine once again confirms the rightness of our decision. Despite three revolutions and various economic stresses, we were able to demonstrate our ability to repay our external debt by meeting our obligations in full and on time", Zhaparov said.
The head of the Kyrgyz Cabinet said that from now on there will be a complete change in the approach to spending funds received from external sources.
"We are changing the policy of spending external funds that we received to support the budget, but they were used for everyday consumption. That's not going to happen anymore. If before we invested in energy and transport infrastructure, now we will invest in education, health and new technologies," the chairman of the Cabinet of Minister noted.
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