Kyrgyzstan sees rise in budget revenues
Baku, Azerbaijan, Oct. 6
By Kamila Aliyeva – Trend:
Revenues of the Kyrgyz state budget increased in the first nine months of 2017 compared to the previous year.
Kyrgyz Prime Minister Sapar Isakov held a working meeting on implementation of the revenue side of the state budget for January – September 2017, KyrTag reported.
The Ministry of Finance, the State Customs Committee and the State Tax Service reported that according to preliminary data, for January-September 2017, the state budget received resources in the amount of 97.8 billion soms, or 102.2 percent of the plan.
The figure grew by 11.6 percent or by 10.142 billion soms in comparison with the same period in 2016.
The total amount of revenues to the national budget amounted to 85.3 billion soms, or 102.7 percent of the plan. The incomes increased by 14.7 billion compared to the same period of 2016.
The tax service received 40.5 billion soms or 98.7 percent of the plan. Receipts equaled to 24.3 billion soms (101.0 percent of the plan), according to the State Customs Committee.
Kyrgyzstan's economy advanced 3.8 percent year-on-year in 2016, compared to 3.5 percent growth a year earlier. Industrial output increased by 4.9 percent, driven by metal ores, manufacture of refined petroleum products, food products and production of precious metals.
In 2016, the volume of foreign trade amounted to $5.4 billion and demonstrated a decrease by 1.4 percent compared with 2015. Agricultural and engineering products occupied the largest share in the structure of exports. Last year the volume of coal exports amounted to 29.2 percent, glass products to 27.4 percent, ores and precious metals to 45.4 percent in the total export structure.
In 2016, the GDP growth reached 3.8 percent. The forecasts say that the real GDP growth of Kyrgyzstan will be 2.9 percent in 2017. The risks which can affect the GDP growth in 2017 are instability of the global economy, dependence of the economy on world prices for gold and energy resources, risks for increase of inflation due to the growth of food prices and others.
Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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