Bishkek, Feb. 4, 2021 / Kabar /. President Sadyr Zhaparov received Chairman of the National Bank of the Kyrgyz Republic (NBKR) Tolkunbek Abdygulov, the press service of the president reported.
The preliminary results of the work of the NBKR and the banking sector in 2020 were discussed, as well as priority plans for the current year - 2021.
The head of state was informed about measures to support the real sector of economy, overcoming the impact and consequences of the coronavirus pandemic. It also provides information on the current situation in the financial and foreign exchange markets of the country, measures to smooth out sharp fluctuations in the exchange rate of the national currency.
Abdygulov said that, despite all the difficulties, 2020 was ended with good indicators for the domestic financial system:
- The National Bank managed to keep inflation within the medium-term targets of 5-7%;
- positive indicators of the banking sector remained: the loan portfolio increased by 11% (amounting to KGS 162.6 billion), deposits in banks increased by 19.9% (amounting to KGS 180.9 billion);
- the level of dollarization of deposits was 42.9%, dollarization of loans was 32.9%;
- gold and foreign exchange reserves during 2020 increased by USD 384 million and at the end of the year amounted to USD 2 billion 808 million, which covers 6 months of future imports;
- the profit of the NBKR amounted to a record KGS 8 billion 484 million.
Tolkunbek Abdygulov also said that the NBKR has allocated a total of KGS 9.6 billion to support the real sector of the economy. He also noted that in 2021, the NBKR plans to continue work to maintain the stability of the banking system, develop the payment system and improve banking legislation.
Sadyr Zhaparov stressed the particular importance of monitoring the situation in the international financial markets and economies of the countries that are trade and economic partners of Kyrgyzstan. In this regard, he noted the need to take measures to minimize the risks for the national economy from possible external shocks.
The head of state emphasized the importance of stable and reliable operation of the country's financial and credit institutions, and the need to take all necessary measures to prevent sharp fluctuations in the exchange rate of the national currency.
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