Bishkek, Nov.14, 2019. /Kabar/. The Government of Kyrgyzstan forecasts in 2019 GDP of the country at the level of KGS 600.6 million or growth by 4 %, compared to 2018. Prime Minister Mukhammedkalyi Abylgaziev said at the budget for 2019 and the draft law on the budget for 2020 review meeting.
Abylgaziev said initially the GDP forecast for 2019 consolidated in the amount of KGS 604.7 billion, while in 2018 it was KGS 557.1 billion.
“The main reason is that the deflator decreased by 0.5% and amounted to 3.7%. In 2018 the deflator was 1.5%,” he said.
The prime minister noted changes in the budget of 2019 will be made on the basis of new macroeconomic forecasts.
Abylgaziev also spoke about the main parameters of the budget.
“The budget revenues amount to KGS 155.3 billion, which is KGS 3.6 billion more than it was approved. Previously approved version was KGS 151.7 billion, but compared to 2018, it has increased by KGS 19 billion. Expenditure part of the budget is KGS 165.3 billion, that is by KGS 3.4 billion more than was approved,” he said.
The head of the government drew attention to the deficit.
“The government has made efforts to keep the deficit at the level of KGS 9.9 billion, which is less than the previously approved KGS 10.2 billion. Today, the deficit is 1.7% of GDP. Work to reduce this figure by the end of the year is underway,” he said.
In addition, the PM suggested reducing the amount of tax revenues from previously approved by KGS 6.3 billion.
“Earlier KGS 117.9 billion were fixed, today we propose to reduce to KGS 111.7 billion. This is less than the plan by KGS 6.3 billion, but by KGS 7.9 billion more than in 2018. Growth rates amounted to 107.6%," he added.
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