“We are observing market dynamics”
According to the National Bank's information, the volume of cash soms in circulation has increased. As of October 1, it amounted to 290.1 billion soms. Of this amount, 26.6 billion soms are held in the cash registers of commercial banks, while 263.5 billion soms are outside the banking system.
Professor and Doctor of Economic Sciences Asylbek Ayupov noted in a conversation with Vesti.kg that “the volume of cash is regulated by economic laws and the monetary policy of the National Bank. As salaries increase, the amount of cash held by citizens also rises. However, it should be noted that prices for goods are also rising, and there is a process of regulating the inventory of goods on the shelves.”
The expert emphasized that although the population's income is increasing, the growth rate is insignificant.
“Salaries for those working in the budget sphere and civil servants have been increased. But according to official statistics, about 30 percent of the population is on the brink of poverty or below that level. This means that their incomes have either increased slightly or remained the same. Inflation is observed, but it is moderate,” added Asylbek Ayupov.
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