Euromoney for water. Karakol town of Kyrgyzstan will receive 5.5 million euro loan from the European Bank for Reconstruction and Development and a grant of 5.7 million euro from the Swiss government.
These funds will be spent to improve the water supply system.
The municipal enterprise Karakol Vodokanal will receive a 15-year sovereign loan of 5.5 million euro and a Swiss government’s grant of 5.7 million euro, which will be used to improve the obsolete water infrastructure installed more than 50 years ago.
Export program. In order to increase the export potential of Kyrgyzstan and the competitiveness of products on the world market, the Government of the Kyrgyz Republic approved the Government’s export development program for 2019-2022 as well as an Action Plan for its implementation by its decree of December 20, 2018.
The program is focused on taking measures to increase the export volumes of sectors that have the highest export potential: the clothing industry, processed fruits and vegetables, the dairy industry, and the green and innovative instrument-making industry. The program also includes three cross-sectoral areas - access to finance, export promotion and quality infrastructure.
The share of tourism in GDP. In the first nine months of 2018, a positive growth rate was observed in the tourism sector of Kyrgyzstan.
According to data of Minister of Culture, Information and Tourism Azamat Zhamankulov, in 2017 the share of tourism in the structure of the gross domestic product of Kyrgyzstan was 4.3%. As a result of measures taken to promote the tourist attractiveness of the country in the first nine months of this year, this figures increased to 4.7%.
In nominal volume, an increase of 0.4% amounted to more than 2 billion soms. If in 2017 the amount of cash receipts from tourist organizations amounted to 15 billion 197 million soms, then for three quarters of 2018 it reached 17 billion 486 million soms.
The volume of exports of tourism services for this period amounted to $ 356 million, while last year the service provided by domestic tourism enterprises was estimated at $ 27 million less - $ 329 million.
Outflow of money. In 2018, the cash outflow from Kyrgyzstan increased by 22%. Chairman of the National Bank of Kyrgyzstan Tolkunbek Abdygulov said that, in 2018 the outflow of money through the money transfer system amounted to $ 444 million, which is 22% more than a year earlier. “In 2017, the outflow amounted to $ 451 million,” he said.
According to opinion of the Head of the National Bank of the Kyrgyz Republic, the main reason for the increase in the outflow of funds is the reduction of the grid for customs clearance of cars.
“There is an influx of cars into the country. We associate it with the fact that more cars are imported to the Kyrgyz Republic,” he explained.
NBKR and financial intelligence. The National Bank of the Kyrgyz Republic believes that the State Financial Intelligence Service of the Kyrgyz Republic does not have the right to massively request information on account and cell holders from commercial banks.
The chairman of the National Bank stated that the State Financial Intelligence Agency of the Kyrgyz Republic should request information only on those suspected of money laundering or financing terrorism and extremism.
“We consider that bank secrecy is bank secrecy. All issues related to the disclosure of bank secrecy should be carried out in accordance with the law. There should be anti-money laundering, but it must be implemented within the law. All rules must be observed,” he said.
Credit portfolio. In 2018, the loan portfolio in Kyrgyzstan was 37.8% in dollars.
According to data of the head of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov, this is a good indicator, since it says that the banking system is less exposed to currency risk. “The more loans in a bank in soms, the less risk,” he said.
The head of the National Bank noted that a gradual dedollarization of the credit and deposit system is underway in the Kyrgyz Republic.
“In 2015, the number of loans in dollars amounted to 55%, in 2016 - 44%, 2017 - 37%,” he added.
The National Bank about 2018. Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov summed up the results of 2018. He listed the main indicators of the country's financial sector. His statement says:
- Summing up the outgoing year, I would like to note that in general, the course of the monetary policy of the National Bank during 2018 corresponded to the benchmarks set at the beginning of the year and was aimed at achieving the goal of ensuring price stability in the country.
- During the year, the annual inflation rate did not exceed the medium-term benchmarks of monetary policy at 5-7% and fluctuated in a narrow range from 0.1 to 3.5 percent. There was a decrease in prices for food products, while the growth rates of prices for non-food products were also not high. As of December 14, 2018, the annual inflation rate was 0.3%. At the end of 2018, annual inflation is expected to be about 1%, while average annual inflation is expected to be within 2%.
Ratified gasoline. Russian President Vladimir Putin signed a federal law on ratification of the protocol to the Russian-Kyrgyz intergovernmental agreement on cooperation in the field of oil and oil products supply.
According to this document, Russia does not charge customs duties on petroleum products supplied from the Russian Federation to Kyrgyzstan for domestic consumption in the amounts stipulated by the indicative balances. Moreover, for export purposes, these exported petroleum products are subject to customs declaration in Russia, as if they were exported outside the territory of the Eurasian Economic Union.
Kabar News Agency
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