From January to September of this year, migrants transferred $1 billion 581.1 million to Kyrgyzstan, reports the National Bank of the Kyrgyz Republic In August, the volume of money transfers amounted to $262 million. At the same time, the majority of the amount - $257.4 million - came from Russia.
The Kyrgyz diplomat also reminded that Central Asian countries are rich in resources and are waiting for Arab investors. Kyrgyzstan hopes to utilize the experience of Arab states, primarily in the financial-banking sector, as well as in tourism and services. This statement was made by the Kyrgyz ambassador to Tajikistan, Miroslav Niyazov, who led the delegation representing Bishkek at the Arab Economic Forum for Cooperation with Central Asian Countries and Azerbaijan, which took place on
The International Center for Informatics and Electronics "InterEVM" proposes to establish a light aircraft assembly plant in Kyrgyzstan. This was reported by Vyacheslav Vasyagin, Deputy General Director for International and Foreign Economic Relations of the organization, during a round table discussion titled "Russia-Kyrgyzstan: the state and prospects for the development of economic cooperation." It is noted that the aircraft assembled at the plant will not only have
In Kyrgyzstan, the campaign "Global Money Week" began on March 14, during which educational activities and competitions will be held for children and youth throughout the republic, including remote regions and villages. Excursions to financial institutions and banks will also be organized. The National Bank of the Kyrgyz Republic acts as the campaign coordinator. "Global Money Week" is an annual international campaign conducted by the "Child and Youth Finance"
During the Moscow meeting between the President of Kyrgyzstan Almazbek Atambayev and the head of Russia Vladimir Putin, the issue of expanding trade turnover between the countries was discussed. Vladimir Putin, while discussing the most pressing issues of Russian-Kyrgyz cooperation, emphasized that Kyrgyzstan is a reliable strategic partner of Russia.
After the denunciation of agreements on the construction of hydropower plants in Kyrgyzstan by Russia, there has been more discussion in society about the deterioration of relations between the countries. Will this decision cause political tension in the country? According to Sergey MASAULOV, director of the Center for Prospective Studies (CPI-Bishkek), the situation is actually different. - The hydropower plant construction project is an economic business project, and there will be no
The Rosselkhoznadzor has published a list of Kyrgyz enterprises authorized to supply products to the Russian Federation. This was reported by the Deputy Prime Minister of the Kyrgyz Republic, Oleg Pankratov. The list includes 15 Kyrgyz enterprises engaged in the production of dairy and meat products, as well as fish processing.
The scandal with Canadian investors has not yet subsided when a new one began – with the Chinese. January became a black month for the managers and workers of the oil refinery "Junda". At the beginning of the month, representatives of the financial police conducted an armed search at the Kara-Balta enterprise, after which representatives of the investigative group of the GSBEP and PCR arrested two employees of the company - Deputy General Director Yui Shanlin and Chief Accountant
Not long ago, Kyrgyzstan denounced the agreement with Russia on the construction and operation of the Kambarata HPP-1. After the scandal with Canadian investors, the gold mining company "Centerra Gold," the work of the Chinese oil refinery "Junda" was suspended in the Kyrgyz city of Kara-Balta. Regarding why this is happening, as well as why the investment attractiveness of Kyrgyzstan is declining, the news agency spoke with economist and EAEU expert Nikita Mendkovich. –
In 2016, Kyrgyzstan will gain more opportunities to export its products to the Russian Federation by reorganizing old and creating new trade and economic ties. The Extraordinary and Plenipotentiary Ambassador of the Russian Federation to the Kyrgyz Republic, Andrey Krutko, spoke about what will be done in this direction at his press conference. - Cooperation between the Kyrgyz Republic and the Russian Federation in 2016 will develop in several directions at all levels. We are participants in
One of the offspring of Kyrgyz-Russian integration – the Kyrgyz-Russian Development Fund – is expected to undergo reforms and possibly an external audit in the near future. This was stated by the Extraordinary and Plenipotentiary Ambassador of the Russian Federation in the Kyrgyz Republic, Andrey Krutko, at his press conference dedicated to the results of 2015. During the quarter of active work, the fund has already granted loans for 307 million soms to 63 projects. Farmers engaged in
Kyrgyzstan is terminating the agreement with the Russian Federation on the construction of large hydropower projects, specifically the Kambar-Ata-1 Hydropower Plant and the Upper Naryn cascade of hydropower plants. This became known during the final annual press conference held on Thursday, December 24, by the head of state, Almazbek Atambayev. The implementation of the Kambar-Ata-1 hydropower project and the Upper Naryn cascade of hydropower plants, the construction of which began back in
The National Bank of Kyrgyzstan has introduced a gold collectible coin with diamond inlays called "Snow Leopard." This was announced by the head of the cash management department of the NBKR, Shamil Aydarkulov. The "Snow Leopard" has become the most expensive coin in the history of the National Bank of Kyrgyzstan. The collectible item is made of gold of 999 purity, with a nominal value of 200 soms. The obverse features a snow leopard with diamond eyes. The reverse side of
A unified brand for promoting products from the Naryn region, "Tenir-Tuu Azyktary" ("Products of Tenir-Tuu"), has been created in Kyrgyzstan. This was announced by Kuban Choroев, a representative of the Kyrgyz Tourism Association. – We, the team of the Kyrgyz Tourism Association, based on communities, participated in a tender for the development of a unified trade brand for the Naryn region. As a result, we won the tender, and starting in September, we conducted research in
After the Turkish Air Force shot down the Russian bomber Su-24, which was participating in the anti-terrorist operation in Syria, relations between Russia and Turkey sharply deteriorated. In response to Turkey's refusal to acknowledge its guilt and apologize, the Russian government imposed economic sanctions against Turkey. As a result, the partner countries of Russia in the Eurasian Economic Union, including Kyrgyzstan, found themselves in a rather awkward position. On one hand, it would
The Administration of the President of Kyrgyzstan has purchased two armored minibuses and has begun construction of a "Reception House" on the grounds of the State Residence. Thus, Kyrgyzstan is preparing for the upcoming meeting of the Council of Heads of State of the CIS. The Administration spent 105.5 million soms (1.4 million dollars) on this. To justify these expenses, the government of the republic proposes to increase the budget allocations for the Administration of the
Kyrgyzstan has begun accounting for natural capital. The first step in this direction will be the accounting of forests. To explain the necessity of this, the head of the environmental statistics department of the National Statistical Committee of Kyrgyzstan, UNDP expert Kanykey Orozbaeva, spoke to the news agency. Alternative to GDP
Let’s briefly summarize such an important period as the first 'hundred days' of the Kyrgyz Republic's membership in the Eurasian Economic Union (EAEU), highlighting the advantages and disadvantages of the integration process of the KR into the EAEU. Firstly, it is necessary to note that the period of Kyrgyzstan's accession to the EAEU coincided with a complex economic situation in partner countries, primarily Russia and Kazakhstan, which inevitably affected the overall
A book by the renowned economist, chairman of the Eurasian Economic Analytical Club, Nikita Mendkovich, titled 'On the Way to the Eurasian Economic Miracle: Russia and Integration in the Post-Soviet Space' has been published in Moscow. The book provides a detailed analysis of various aspects of the EAEU and examines the potential opportunities for economic development of all EAEU member states, as well as Tajikistan. According to the IA, the author of the work, the book 'On the
The National Bank of the Kyrgyz Republic has issued a commemorative collector's coin "Eurasian Economic Union." The coin is made of 925 silver. Its circulation is 1,000 copies. The EAEU coin, issued by the NBKR, was put into circulation on November 2. As reported by IA specialists of the National Bank, collector coins on the same theme will be released in all EAEU member countries by December 1.
Fluctuations in the dollar exchange rate are one of the most relevant and discussed topics in the post-Soviet space, and Kyrgyzstan is no exception. Since the beginning of autumn, the official dollar exchange rate has reached as low as 64.2 soms and has also exceeded 70. In what currency is it better to take loans and keep savings? Should we expect further rapid growth of the dollar against the som? This was discussed during a seminar for media representatives titled "Issues of Monetary
According to the Talas regional state administration, the price of beans currently stands at 28-30 soms per kilogram, whereas just last year the purchase price was twice as high. - In 2014, purchase prices rose to 70 soms. The international prices for beans are set on the exchange in Turkey. There, the figures are also low, which affects the price of the products we grow. Compared to previous years, there are not many buyers in the region, so the competition is very weak. Currently, about 15
"Smart meters" began to be installed in Kyrgyzstan in the fall of last year. By the end of 2015, it is planned to install about 110,000 modern devices in private homes. The financing is provided by Germany as part of the project "Improving the efficiency of the electricity distribution network." Representatives of the energy networks are calling on citizens to cooperate; the procedure for transferring subscribers will be free and mandatory for all, so there is no need to
The day of Kyrgyzstan's accession to the Eurasian Economic Union, August 12, is undoubtedly a historic event for the republic that will reflect on its future. However, what can ordinary Kyrgyzstanis expect from integration right now? On the very first day of full membership in the EAEU, customs control was lifted at some checkpoints on the Kyrgyz-Kazakh border. According to the Minister of Economy of the Kyrgyz Republic, Oleg PANKRATOV, the opening of customs borders is no longer just a
After Kazakhstan fell under the second wave of devaluation of its national currency, the tenge, many became concerned about which of the world's currencies would collapse next. Experts from one of the most accurate financial market information resources, Bloomberg, prepared a report last Friday that included 10 countries whose residents should be wary of devaluation. Among them are two member countries of the EAEU: Kyrgyzstan and Armenia. According to analysts' forecasts, all
Representatives of more than 40 enterprises from the Chinese province of Shanxi have arrived in Kyrgyzstan. The main goal of their visit is to negotiate with local businessmen. This was reported by Sun Yuejin, head of the Department of Commerce of Shanxi Province, during the Second Economic Forum "Issyk-Kul – 2015." – Together with the Kyrgyz Republic, we will try to find points of contact based on the natural resources and development trends of each country. I would like to note
The business community of Kyrgyzstan is concerned about the possible amendments to the law "On the Protection of the Health of Citizens of the Kyrgyz Republic from Tobacco Exposure," which would prohibit the sale of cigarettes within a radius of 100 meters from educational, healthcare, cultural, and sports institutions, as well as the display of tobacco products in store windows. According to entrepreneurs' forecasts, such measures will not only fail to achieve the desired
It is surely well known from personal experience that getting rid of damaged money is not so easy. Stores, markets, and public transport often refuse to accept them, and payment terminals "return" them. Indeed, when we receive a heavily worn or torn banknote as change, we usually ask to replace it with a newer one. However, worn-out money can end up in anyone's hands, especially since the number of damaged banknotes and coins has increased recently. Why is this happening, and
According to data from the Customs Service of Kyrgyzstan, in the first 7 months of 2015, the Kyrgyz Republic reduced trade with Uzbekistan by 1.8 times. According to the materials provided by the Kyrgyz customs, from January to July 2015, the volume of foreign trade turnover between the two Central Asian republics amounted to 78 million 442 thousand dollars compared to 142 million 602.6 thousand dollars for the same period in 2014, which is 64 million 160.6 thousand less.
Governor Georgy Poltavchenko met with the Mayor of Bishkek, Kubanychbek Kulmatov, at Smolny. His visit to the northern capital was timed to coincide with the opening of Bishkek Days in St. Petersburg. The meeting discussed issues of strengthening cooperation between St. Petersburg and the capital of the Kyrgyz Republic. Currently, there is an Agreement on cooperation in trade, economic, scientific, technical, and cultural fields, signed between the Bishkek City Hall and the Government of St.
However, those wishing to sell cars in EAEU countries will have to pay the difference to the level of the Eurasian Union rates.
The 'Green' corridor at the border with Kyrgyzstan will be eliminated, as reported by the official representative of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan, Zhambyl Suraganov. “There are seven border customs posts functioning at the border with the Kyrgyz Republic: six automotive and one railway. All automotive customs posts have 'green' and 'red' corridors. The dual corridor system at the border with Kyrgyzstan will
It is expected that the discussion will involve deputies of the Jogorku Kenesh, Russian diplomats, representatives of the government, and the Kyrgyz-Russian Development Fund. On May 19, a round table on the topic "EAEU as an opportunity for Kyrgyzstan to modernize the national economy" will be held in Bishkek. According to the moderator of the event, political scientist Igor Shestakov, one of the main tasks of the forum is to discuss specific areas of participation of the business
According to the results of the first three months of the year, Kyrgyzstan's economic growth amounted to 107%, reports RIA Novosti, citing the country's Ministry of Economy.
Yesterday, the head of the Ministry of Transport of the Kyrgyz Republic, K. Sultanov, met with a delegation from the Export-Import Bank of China led by Zhang Li, Program Coordinator of the Department of Preferential Lending of the Export-Import Bank of China. During the meeting, the parties discussed issues related to the financing of the construction of the second phase of the Alternative North-South Road. In particular, Minister of Transport and Communications of the Kyrgyz Republic K.
As part of a broad information and explanatory campaign, we present infographics on the algorithm for calculating the weighted average tariff for electricity and the new tariff policy.
Since December 11, the cost of all types of automotive fuel has decreased in Kyrgyzstan. This was reported today, December 12, by the Association of Oil Traders of the Kyrgyz Republic.
Russian experts explain the basis for such optimistic forecasts
OSH - The textile industry of Kyrgyzstan continues to make progress, providing jobs and economic growth.
In order to control the price situation in the coal extraction and sales market, to curb price increases in the secondary market, and to ensure compliance with the provisions of Article 9 of the Law of the Kyrgyz Republic "On Competition," the Prime Minister of the Kyrgyz Republic, Joomart Otorbaev, signed a government resolution "On the introduction of state regulation of coal prices in the territory of the Kyrgyz Republic."
Today, October 30, the First Deputy Prime Minister of the Kyrgyz Republic, Taiyrbek Sarpashev, met with a group of investors from the Republic of Korea.
According to preliminary data, from January to September 2014, the expenditure part of the republican budget (excluding special funds and taking into account state debt) was executed in the amount of 71 billion 902.4 million soms, or 91.6% of the plan amounting to 78 billion 492.9 million soms. For the corresponding period of the previous year, the execution of the republican budget (excluding special funds) amounted to 63 billion 775.4 million soms. Compared to the same period last year,
The Minister of Agriculture and Melioration of the Kyrgyz Republic, T. Aydaraliev, met with bean producers and buyers during his trip to Talas. The residents of Talas are dissatisfied with the prices of beans this year. It is worth noting that last year the price of beans ranged from 74 soms to 100 soms, while in 2014, from January to March, they were purchased at prices ranging from 100 soms to 115 soms. However, from mid-March, the price of beans was estimated at 60-65 soms. Bean producers
The National Bank of the Kyrgyz Republic is taking all necessary measures to support the national currency. There is no shortage of foreign currency in the country. This was stated at a press conference by the Deputy Chairman of the Central Bank, Nurbek Zhenish. He reported that since the beginning of September this year, the exchange rate of the US dollar against the som has increased by 5.87%, from 52.9561 (on September 1) to 56.0660 (on October 23) soms per one US dollar. "Overall,
The Department of Public Procurement under the Ministry of Finance of the Kyrgyz Republic, within the framework of the Public Procurement Development Strategy for 2012-2014, approved by the resolution of the Government of the Kyrgyz Republic dated September 27, 2012, No. 661, together with invited consultants, has developed and submitted for consideration to the Jogorku Kenesh of the Kyrgyz Republic the draft Law of the Kyrgyz Republic 'On Public Procurement'.
On October 24, the Prime Minister of the Kyrgyz Republic, Joomart Otorbaev, participated in the first expanded investment hearings of the Government of the Kyrgyz Republic regarding the project for the creation of an international transcontinental aviation hub based on the international airports of OJSC "Manas International Airport".
On October 20, 2014, a meeting took place in the Small Hall of the Ministry of Finance of the Kyrgyz Republic between the leadership of the Ministry of Finance and the State Personnel Service of the Kyrgyz Republic and a delegation from the Republic of Turkey, consisting of representatives from the Ministry of Finance and the Treasury Secretariat of Turkey, as well as the Turkish Cooperation and Coordination Agency (TIKA). The Deputy Minister of Finance, Zuur Eduardovna Bayamanova, warmly
According to preliminary data from the National Statistical Committee of the Kyrgyz Republic, the real GDP growth for January-September 2014 was 3.0%, which is 5.9 percentage points lower than the corresponding period in 2013, while the nominal GDP amounted to 266.6 billion soms.