Kyrgyzstan's economic week Sept. 3-8, 2018

And again about railway. The construction of the railway "China-Kyrgyzstan-Uzbekistan" is of great importance, the leadership of Kyrgyzstan said this week. President Sooronbay Jeenbekov at the Summit of the Turkic-speaking States Cooperation Council in Cholpon-Ata said that Kyrgyzstan considers it necessary to pay attention to issues of economic diversification, expansion of transport corridors, development of entrepreneurship and improvement of the investment climate. "To this end, we propose to revive the work of the ministers of economy and working groups on economic cooperation," said the President of Kyrgyzstan. The China-Kyrgyzstan-Uzbekistan railway construction project was proposed as far back as in 1998. Since then, negotiations are under way on several issues - the route, the choice of the place of crossing the border, the size of the railway wheel, a source of financing and management. The final decision has not yet been made on all these issues, although the funds for the feasibility study of the project have long been agreed with the Chinese side for financing. Budget forecast. Three macroeconomic scenarios of the development of Kyrgyzstan are behind the country's development assessments. According to data of the prepared draft of the republican budget of the republic for 2019 and the prognosis for 2020-2021 by the Ministry of Finance, the forecast is prepared taking into account external conditions and internal factors that may influence the development of the country's economy for the current and subsequent years, available resources and based on current situation. The difference in scenarios is due to the distinction between private business conduct models, the work of industrial enterprises, the prospects for increasing their competitiveness, and the effectiveness of implementing state development policies. Potential of tourism. It is forecasted to increase the volume of hotel and restaurant services in Kyrgyzstan (by 8.5% in 2019, by 8.0% in 2020, and by 7.0% in 2021) due to the increase in the network of services provided and the influx of tourists. According to the draft of the republican budget of the Kyrgyz Republic for 2019 and the forecast for 2020-2021 of the Ministry of Finance, in the sphere of tourism, the work will be continued to implement the activities of the Government's program for the development of tourism until 2020. The result of the taken and implemented measures in the tourism industry should be an increase in the tourist flow to the country, an increase in the volume of export of tourist services. Priorities for the development of the tourism industry remain: - improvement of the tourist infrastructure; - enhancing the image of Kyrgyzstan in the international tourism arena through information campaigns; - raising the level of the system of integrated tourist safety in the territory of Kyrgyzstan, including sanitary and environmental; - Ensuring compliance with environmental standards at tourist sites and visiting regions. Perspective of GDP. The GDP per capita of Kyrgyzstan will increase from $1,399.8 in 2019 to $1602.7 in 2021. Such figures are included in the draft budget of the Kyrgyz Republic for 2019 and the forecast for 2020-2021, compiled by the Ministry of Finance of the Kyrgyz Republic. In the field of social policy, the main tasks for the medium term are the full implementation of the guaranteed social obligations of the state, raising the living standards of the population and improving the situation of socially unprotected categories of citizens, and continue to provide targeted social assistance to the most vulnerable categories of citizens. The main priority directions in the field of employment will be continued within the framework of the Program to promote employment of the population and regulate internal and external labor migration until 2020. Collection of taxes is growing. In January-August, 2018, the State Tax Service of Kyrgyzstan collected 50 billion 726.6 million soms of taxes and payments. The established plan was fulfilled by 100.9%, or exceeded by 442.1 million soms. According to the Tax Service, in comparison with the same period in 2017, tax revenues increased by 4 billion 943.3 million soms, or 10.8%. At the same time, in August, 7 billion 221.1 million soms of taxes were collected. Execution was 102.6% or exceeded by 181.1 million soms. Compared to August of 2017, tax collections increased by 795.1 million soms, or by 12.4%. Launching of new enterprises. 8 large enterprises will be launched in Kyrgyzstan until the end of 2018. Erkin Asrandiyev, Chairman of the Board of the Russian-Kyrgyz Development Fund OJSC said that they will start working in the next 2-3 months. "An enterprise for the production of metal products will be open in Bishkek, a plant for the production of macaroni products in Tokmok, a shoe factory will be open in Sokuluk and a cement plant will be open in Osh oblast," Asrandiyev said. For success - less interest. Russian-Kyrgyz Development Fund (RKFR) OJSC continues to take measures to contribute to the development of the regions of Kyrgyzstan. According to the RKFR management, two new loan products are being launched in Kyrgyzstan. "The first is a competition announced in July this year, called "A region is a growth point". A distinctive feature of this competition is the specialization of each region. Secondly, the incentive mechanism for entrepreneurs - if the entrepreneur successfully implements his project and pays our loan on time, then at the end of each year we are ready to return half of the interest paid. In other words, if the loan was taken at 4% per annum, then after the return of interest, the loan will cost him 2% per annum. I think that this is a very low preferential rate. These conditions have no analogues in the CIS and in the history of Kyrgyzstan," Asrandiyev said. Production growth. The increase in production by small industrial enterprises compared with January-June last year was observed in all regions of the republic. According to data of the National Statistics Committee of Kyrgyzstan, only in Naryn oblast, the production decrease made 2.8%. Growth in the volume of products produced by medium-sized enterprises was noted in Issyk-Kul, Jalal-Abad, Naryn and Osh oblasts, and in other regions, it declined. Growth of services. The volume of services provided by hotels and restaurants in Kyrgyzstan in January-June 2018 amounted to 7.5 billion soms. According to the report of the National Statistics Committee of the Kyrgyz Republic, the share of services rendered by individual entrepreneurs in their total volume was 72.5%, small enterprises - 20.4%, medium-sized enterprises - 2.2%. The volume of wholesale and retail trade, repair of cars and motorcycles of small and medium-sized businesses in January-June of 2018 amounted to 167.0 billion soms, which is 6.2% more than in January-June 2017. Concentration, Bishkek. In January-June, 2018, 10.9 thousand enterprises operated on the territory of Kyrgyzstan, of which 10.2 thousand - small enterprises and 0.7 thousand - medium-sized enterprises. According to the National Statistics Committee of the Kyrgyz Republic, of the total number of operating small enterprises in the country, about 60% operate in Bishkek. As of July 1, 2018, the number of individual entrepreneurs included in the database of the Unified State Register of Statistical Units amounted to 396.1 thousand units and increased by 2.8% compared to the same date of the previous year. The number of people employed in the sphere of small and medium-sized business (excluding peasant and private farms) in January-June of 2018 amounted to 81.2 thousand people. Kabar News Agency