The economy of Kyrgyzstan has shown steady growth over the past three years, primarily due to radical reforms in the budgetary sphere. This was stated by the head of the Cabinet, Akylbek Japarov, in an interview with the channel "Russia 24."
The quadrupling of customs revenues and the tripling of tax collections have allowed the country’s budget to triple and GDP to double, Japarov claims.
"Key growth factors have been trade and services. Foreign trade turnover has significantly increased, especially with EAEU countries and third countries. The educational sector has also shown dynamic development, attracting students from various countries, including Pakistan, India, and Bangladesh. Active cooperation with Russian universities also contributes to the growth of the sector," said the head of the Cabinet of Kyrgyzstan.
Japarov continued that the light industry sector of Kyrgyzstan is showing significant growth, with a shortage of labor already being observed.
"Another rapidly growing sector is construction, which has accelerated by 50% over the past two years. Investments in fixed assets have grown by more than 40%, with a 58% increase in the first quarter of 2024," said Akylbek Japarov.
He continued that special attention is being paid to the development of hydropower and renewable energy sources. Small hydropower plants are being built, and projects for the construction of solar power plants with the participation of Russian companies and international financial institutions are being implemented.
"Despite the achievements, the country faces the challenge of ensuring energy security. The electricity deficit of 3.2 billion kilowatt-hours is covered by imports. To address this problem, a national project for the construction of the Kambar-Ata HPP-1 is being implemented, with the first stage already launched. In the future, a project for the construction of the China-Kyrgyzstan-Uzbekistan railway is planned," said Japarov.
At a conference in Bishkek dedicated to the 100th anniversary of the Ministry of Finance, which A. Japarov headed three times at different times, he announced that by 2030, Kyrgyzstan's GDP should reach $30 billion, and GDP per capita should exceed $4,000. Currently, the country's GDP is $16 billion, and GDP per capita is $1,950.
CentralasianLIGHT.org
May 29, 2024