Macroeconomic Forecast Kyrgyzstan

Kyrgyzstan's general government surplus came in at KGS1.3bn over January-September, a significant contraction from the KGS57.9bn surplus recorded over the same period in 2008. The drawdown was caused by a surge in expenditures, which were up 31.9% y-o-y over Q109-309 to KGS292.0bn, having stood at KGS221.3bn for the same period in 2008. By contrast, revenues rose just 5.1% y-o-y over the first three quarters of 2009, coming in at KGS293.3bn, from KGS279.2bn in Q108-Q308. We expect the pressure on government expenditures to stay high through end-year, as the global economic downturn continues to impact Kyrgyzstan, and forecast the surplus to

To read the full article, please choose one of the following options: