Kyrgyzstan’s economic decline to make about 5.6% by year-end: projections

Bishkek, Sept. 24, 2020. /Kabar/. The Ministry of Economy is constantly analyzing the economic situation and, according to our estimates, by the end of 2020 the economy will fall by about 5.6%, Kyrgyzstan’s Deputy Economy Minister Avtandil Alybayev told during a press conference at Kabar News Agency.

According to him, there are different views on the second wave of COVID-19, but the government is preparing for any unexpected situations.

"Hospitals are being built and repaired across the country. Food and medicine supplies are being prepared. But we hope that strict quarantine will not be imposed, as it was in spring. Due to the pandemic, the budget has been optimized, now there are savings, no travel expenses, etc. We are now gradually improving the situation, companies are working, taxes should start coming,” said Alybayev.

The official noted that work is also underway to attract foreign financial assistance, to restructure the external debt.