Kyrgyzstan's economic week Feb. 12-18, 2018

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GDP growth. The volume of gross domestic product (GDP) in January 2018, according to preliminary estimates, amounted to more than 27 billion soms ($1 = 68.95 som) and increased by 2.3% compared to the same period of last year.

According to data of the National Statistics Committee, the growth in GDP was affected by an increase in volumes in the industries that produce goods and services.

The largest share in the structure of GDP fell on the industry providing services, which in general amounted to about 47%. The share of industry was more than 27%, agriculture - 8% and construction 3%. Without taking into account the enterprises for the development of the Kumtor field, the volume of GDP last year was 24 billion soms, an increase made 3.4%.

At the same time the growth of industrial production in Kyrgyzstan in January 2018 was increased mainly due to light industry, the National Statistics Committee said.

The share of industry in the GDP structure in January of this year made 27%.

The growth in the industry was achieved by increasing production in the textile industry: the production of clothing, footwear, leather and other leather products, as well as the production of rubber and plastic products.

Investments also increase. The volume of investments in fixed assets in January 2018 amounted to 2.8 billion soms ($1 = 68.95 som) and increased by 1.5% compared to January 2017.

The volume of financing from internal sources increased by 7.7%, while external ones, by contrast, decreased by 8.3%.

The bulk of investment was directed to the construction of facilities on extraction of minerals, processing industries, transport activities, health and housing construction.

Foreign trade turnover increase. The volume of foreign trade turnover of Kyrgyzstan according to the preliminary results of 2017 exceeded $ 6 billion and increased by 12.5%.

The export of goods from Kyrgyzstan increased by 13.8%, and imports - by 12%.

The growth in exports in January 2018 is provided by increased supplies of polished glass, butter, dried fruits, ores and concentrates, as well as precious metals.

The increase in import, according to his data, is ensured by an increase in imports of synthetic fabrics, tableware and cookware, confectionery, vehicles, communications equipment, medicines, petroleum products, chocolate and other products.

The volume of mutual trade with the member states of the Eurasian Economic Union (EEU) in January 2018 amounted to $ 2 billion 418 million and compared to January 2017 and December 2016 increased by 16.6%. At the same time, exports of goods increased by 27%, imports by 13.8%.

The greatest share of the republic's mutual trade with the member states of the EEU belongs to Russia - 59.7% and Kazakhstan 36.5%.

Livestock of animals. there are 1 million 575 thousand head of cattle in Kyrgyzstan, which is 3.1% more than in 2016, and the number of poultry is 6 million, which is 4.2% higher than in the previous year. However, the National Statists Committee of the Kyrgyz Republic reported that despite this rate of growth in livestock, the indicators of the 1990s are not yet achieved in Kyrgyzstan. Then the number of domestic animals exceeded the current figures by more than 2 times.

At the same time, the number of donkeys in Kyrgyzstan decreases every year. Their number annually decreases by about 10 thousand heads. If in 2015 there were more than 53 thousand donkeys in the republic, in 2016 there were 43 thousand heads, and in 2017 even less - only 33 thousand heads. According to the National Statistical Committee of the Kyrgyz Republic, donkeys are slaughtered for sale of their skin.

This week it became known that the identification of animals in Kyrgyzstan is completed by 90%. Deputy Prime Minister Dair Kenekeyev informed about this at the session of the Jogorku Kenesh.

He said that in addition to tags for all animals, it is necessary to launch a system of traceability, that is, to track the movement of animals throughout the country. Kenekeyev explained that for the introduction of this system, two people went to France for training. Then they will bring to Kyrgyzstan codes from the system, after which the local company will monitor the movement of livestock.

Markets will not be closed. There are no significant risks of closing Dordoi and Kara-Suu markets in near future. The Ministry of Economy said that the opening of Khorgos market in Kazakhstan is not a big risk for the closure of domestic large markets.

"We discussed this situation with representatives of major markets. They have their own strategy and vision. Those initiatives on fiscalization of tax payments made on behalf of the Prime Minister are discussed with entrepreneurs. They have their own vision of how to further increase their work," Minster of Economy of Kyrgyzstan Artem Novikov said.

At that the Ministry of Economy is actively working with the leadership of the markets and is providing all necessary support.

Taxes-taxes. The State Tax Service collected 6 billion and 70.5 million soms of taxes and payments in Jan. 2018. The plan was fulfilled by 102.4% or exceeded by 142.1 million soms.

Compared to the same period of 2017, tax revenue increased by 383.9 million soms or 6.8%, excluding revenues from Kumtor, which composes 542.9 million soms or 12%.

Exchange rate intervention. On February 14, the National Bank of Kyrgyzstan conducted one more intervention. The National Bank was forced to buy currency. The main regulator of the country's currency market was forced to react to the depreciation of the dollar. The National Bank bought out $ 5.5 million in one day.

This is the third intervention by the National Bank in 2018.

Meat supply to Iran. Kyrgyzstan resumed deliveries of meat to Iran. Chairman of the association of domestic producers Bakyt Degenbaev said that processors from Kyrgyzstan supplied 56 tons out of 500 tons of the first contract. An agreement was reached to supply a mutton.

"In 2010, we already covered 30% of Iran's needs for lamb. But then we had a number of reasons, such as the lack of our own halal standard, modern slaughter shops, industrial refrigerators, which prevented us from supplying mutton to this country," Degenbaev explained.

He said that after resolution of these issues, the volume of halal meat supply to Iran will be increased.

Kabar News Agency


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