As of May 1 Kyrgyzstan’s GDP shows decrease by 3.8%: deputy PM

Bishkek, May 15, 2020. /Kabar/. As of May 1, 2020 amid coronavirus pandemic, according to the National Statistics Committee, the GDP amounted to KGS 140 billion, and shows a decrease by 3.8% compared to last year, Deputy Prime Minister of Kyrgyzstan Erkin Asrandiyev said at a news briefing.

"We all see how the pandemic is adversely affecting the world economy and causes crisis phenomena. Such processes have touched upon our economy as well. As the Kyrgyz Republic is a country with open economy, there are a number of negative factors that have directly affected the economic activity, economic indicators. These are such factors as closure of borders, reduction of trade turnover with our main partners, temporary suspension of economic activity of certain types of business," he informed.

By May 1, 2020, according to the Statistics Committee’s data, the GDP amounted to KGS 140 billion, and showed a 3.8% decline compared to last year.

Accordingly, the negative phenomenon has also affected the replenishment of the budget revenues. Thus, for 4 months of this year shortfalls to budget made over KGS 10 billion. Only in April the losses of the revenue part of the budget amounted to KGS 4.8 billion.

"Such conditions dictate that we make changes to the budget, revise the forecast until the end of 2020 and the expenditure part of the budget. This work was started 2 months ago," the deputy PM explained.