BAKU, Azerbaijan, July 20. Kyrgyzstan’s republican budget registered a surplus of 2.34 billion soms ($26.6 million) in the first half of 2023, the head of the Cabinet of Ministers Akylbek Japarov said at a recent cabinet meeting, Trend reports.
He attributed this positive financial outcome to the successful implementation of tax and customs reform. According to him, the reform, initiated in 2022, has begun to show its effectiveness.
"We have achieved an optimal balance between the stimulating and fiscal roles of taxes. The tax system has become more stable and transparent. We are setting the trend that paying taxes is considered 'beneficial and prestigious.' Thanks to the improved management and fiscalization of tax and customs operations, the republican budget is now in surplus - amounting to 2.34 billion soms," he said.
He noted that compared to the tax revenues in the first half of 2022, the amount of tax collections this year increased by 27.1 percent, or 25.2 billion soms ($286.7 million). The revised plan has been exceeded by 2 billion soms ($22.7 million).
Regarding the performance of the State Customs Service, he highlighted that in the first half of 2023, it collected 48.8 billion soms ($555.3 million), surpassing the target by 153.8 percent.