Available Budget Funds
The Ministry of Finance of the Kyrgyz Republic has announced the placement of 100 million soms from the reserve account into deposits of commercial banks. This process was carried out through an auction held for two terms — 6 and 9 months.
As a result of the trading, the average weighted interest rate was set at 15%. The minimum and maximum rates at the end of the auction were the same. The total amount of placed funds was 100 million soms.
The stabilization account, where these funds are held, is managed by the Ministry of Finance. The technical support for the operations is provided by a commercial bank with state participation, which operates on behalf of the ministry.
The Ministry of Finance emphasizes that the funds from this account can be used not only for servicing the state debt but also for investing in financial assets. In particular, it is possible to place funds in securities of companies with high listing categories, as well as in bonds of foreign states and corporate bonds.
Placing funds in bank deposits is part of the strategy for effective management of temporarily free budget resources, aimed at increasing their profitability while maintaining the necessary level of reliability.
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