This week, it was once again announced that according to the results of 2019, the growth of the Kyrgyz economy was greater than expected, and the export of agricultural goods was greater than a year earlier. In addition, the Kyrgyz Foreign Ministry called on potential German investors to invest in Kyrgyzstan and take part in the 2020 Economic Forum. And the State Tax Service announced that it had practically launched almost 90% of the “single windows” for serving the population throughout the country. In general, the week showed that economic events are gaining momentum.
Saved growth. Despite external and internal factors, in 2019 Kyrgyzstan managed to maintain a positive growth trend in the national economy.
According to the data announced by Minister of Economy of the Kyrgyz Republic Sanjar Mukanbetov at the meeting of the Government of the Kyrgyz Republic this week on preliminary results of the country's socio-economic development for 2019 and tasks for 2020, the volume of GDP in 2019 amounted to 590.0 billion soms, and the real pace growth amounted to 4.5% (in 2018 it was 3.8%). Economic growth was ensured by all sectors of the economy: in agriculture, volumes actually increased by 2.6%, construction - by 10.6%, industry - by 6.9%, and services - by 2.9%. In order to support small and medium-sized businesses, the Guarantee Fund OJSC acted as a guarantor for 1,602 projects totaling KGS 1.7 billion. As a result, KGS 5.7 billion were issued, which is 2 times more than in 2018. In turn, the Kyrgyz-Russian Development Fund approved 2,351 projects worth USD 379.0 million.
Export of agricultural products. The foreign trade turnover of Kyrgyzstan in the field of agriculture and processing for 11 months of 2019 increased by 17.1% compared to the same period in 2018 and amounted to USD 889.4 million.
Deputy Minister of Agriculture, Food Industry and Land Reclamation of the Kyrgyz Republic Amangeldi Isaev said that in January-November 2019, agricultural products, food and processing industries were exported in the amount of KGS 17 billion 822 million, and an increase compared to the same period last year was noted by 26.4%. ”
Fund’s money. Last year, the Russian-Kyrgyz Development Fund approved projects worth USD 77.5 million, which is 1.8 times more than in 2018.
Chairman of the Board of the Fund Erkin Asrandiev, this week, said that over the entire period of the fund’s activity, 2,351 projects were approved for a total of USD 379 million.
“We finance large projects ourselves, and small and medium-sized businesses through partner banks. 15 banks and 4 microfinance organizations work with us, as well as the Guarantee Fund. We directly funded 57 projects worth USD 202 million. Almost 2 thousand 300 small and medium-sized businesses - through our partners, he said.
A call to the Germans. This week, Kyrgyz Foreign Minister Chingiz Aidarbekov called on German businessmen to invest in Kyrgyzstan.
He met in Germany with Executive Director of the East European Association of the German Economy Michael Harms.
The interlocutor was informed about the priority areas of the Kyrgyz economy. Representatives of the German economy were invited to invest in Kyrgyzstan.
Harms noted the importance of expanding contacts and spoke positively about the Kyrgyz-German business forum held in Munich in 2019, during which a number of bilateral documents were signed in various sectors of the economy.
In addition, Aidarbekov at the meeting invited representatives of the East European association to participate in the first EU-CA economic forum.
In addition, Aidarbekov held another meeting in Berlin - with the Federal Minister of Economics and Energy of Germany Peter Altmaier. The parties briefly discussed current issues of Kyrgyz-German economic cooperation and noted the importance of expanding cooperation between the two countries.
Aidarbekov invited Altmaier to participate in the upcoming first EU-CA economic forum in Kyrgyzstan, which will be held in the second half of 2020. He stressed that the participation of representatives of the German economy in the forum will create new conditions and opportunities for business circles of the two countries.
Single windows. The State Tax Service of the Kyrgyz Republic expands the network of "single windows" for the provision of services to tax payers and insurance premiums.
Currently, 52 of the 60 territorial tax authorities provide services on a single window basis. In addition, there are 13 service centers and points created in large trade and market complexes and shopping centers, as well as at Sosnovka checkpoint, where various services can also be obtained.
The State Tax Service plans to open “single windows” in other tax authorities as part of the ongoing work to create modern infrastructure and standards for servicing taxpayers.
In the single window, citizens and taxpayers have the opportunity to receive a range of services, including submitting reports, obtaining certificates, undergoing tax registration, acquiring or renewing a patent and insurance policy, and other services. It is also possible to pay taxes, insurance premiums and other payments through bank cash desks and payment terminals.
Security Committee’s contribution. This week, the State Committee for National Security of the Kyrgyz Republic, pursuant to Decree of the Government of the Kyrgyz Republic dated June 22, 2018 No. 298, made another money transfer in the amount of KGS 67 million 644 thousand to the Single Deposit Account of the Ministry of Finance of the Kyrgyz Republic.
The total amount reimbursed to the state based on the results of the work of the Security Committee in the framework of the fight against corruption, since the opening of the deposit account amounted to more than KGS 371 million.
GF plans. Chairman of the Guarantee Fund OJSC Malik Abakirov this week told how many guarantees this year the Fund plans to issue and for what amount.
According to his data, from the beginning of the Fund’s activities, 1 thousand 602 guarantees were issued in the amount of KGS 1 billion 676 million, which is 150% more than the capital of the Guarantee Fund OJSC. Partner banks issued loans in the total amount of KGS 5 billion 658 million under guarantees. From year to year, guarantees demonstrate an increase in quantitative and qualitative parameters.
Loans to women. The Guarantee Fund provided 538 guarantees to women entrepreneurs in the amount of KGS 457 million.
According to the Guarantee Fund, the share of female entrepreneurship in the total volume of guarantees was 34%.
“As part of our activities, we also pay great attention to women entrepreneurs. In 2017, the Guarantee Fund, together with the Asian Development Bank, trained 277 women, future entrepreneurs. Of these, 20 received loans. Every year we conduct training for 1 thousand 200 people, among whom there are also women. The Fund does not divide the recipients of the guarantee into women entrepreneurs or men entrepreneurs,” said Abakirov, the head of the Fund.
Local budgets. Income from the local budgets of the Kyrgyz Republic from 2010 to 2019 increased from KGS 7.9 billion to KGS 18.2 billion.
According to the head of the Department of Intergovernmental Relations of the Ministry of Finance Ruslan Sadyrbaev, in 2019 income from income tax in relation to local budgets amounted to about KGS 2.4 billion, in 2020 - KGS 1.2 billion.
This project is implemented by the Budget and Finance Committee of the Kyrgyz Parliament with the assistance of the UNDP project and the Swiss Agency for Development and Cooperation "Strong parliamentary democracy with the active participation of citizens."
Kabar News Agency
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