BISHKEK, Kyrgyzstan, June 7. The Eurasian Fund for Stabilization and Development (EFSD) predicts that Kyrgyzstan will have a budget deficit of 0.4 percent of GDP in 2024, Trend reports.
The fund anticipates a deficit of 0.3 percent of GDP in 2025 and a surplus of 0.5 percent in 2026. It's noted that budget revenues will account for 28.4 percent of GDP in 2024, 27.4 percent in 2025, and 25.7 percent in 2026.
At the same time, budget expenditures are expected to constitute 28.8 percent of GDP in 2024, 27.7 percent in 2025, and 25.2 percent in 2026.
The fund indicates that continued efforts to automate fiscal processes and maintain strong import levels will support tax collection, although revenue growth will be limited by high previous-year bases. In addition, it is projected that the increase in recycling fees on cars in Russia will lead to a decrease in car exports and, as a result, a decline in non-tax revenues.
To note, EFSD forecasts Kyrgyzstan's GDP to reach $14.8 billion in 2024, with a growth rate of 4.8 percent.