Socio-political instability in Kyrgyzstan reduces development

Kyrgyzstan Materials 28 July 2011 11:23 (UTC +04:00)

Socio-political instability is the only negative factor in the development of Kyrgyzstan, Nasirdin Shamshiev, the representative of the Ministry of Economic Regulation, stated at the Local Economic Development Stimulation in Kyrgyzstan conference today, 24.kg reported.

According to him, the level of economic growth was 1.4 percent in 2010 because of April and June events. While the GDP reached 5.5 percent for the first quarter of this year. "The slowdown is observed only in construction sector this year as the state budget was passed late and the capital construction program was approved only on June 2. Therefore the pledged funds did not work," said Nasirdin Shamshiev.

He added that the regions are still underdeveloped in economic terms. "We need a targeted policy in provinces development. First of all we must hold the administrative-territorial reform and develop parity on the state - owner-driver principles," stressed Nasirdin Shamshiev.

The official said that socio-economic concept is being worked out in Kyrgyzstan.