Download or read book Kyrgyz Republic Improving Growth Potential written by Takashi Yamano and published by Asian Development Bank. This book was released on 2019-09-01 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kyrgyz Republic has overcome some complex challenges to now have one of the most open economies in Central Asia. The country has improved its per capita income and living standards and is on the threshold of becoming a lower-middle-income economy. Looking ahead, the main challenge for the Kyrgyz Republic is to build on these successes to stimulate stronger, more broad-based economic growth. This book identifies the economic and governance reforms needed within key sectors to drive this growth. It provides policy suggestions to enhance the country’s trade, agriculture, tourism, finance, information and communications technology, energy, transport and logistics, and human capital.
Download or read book Kyrgyz Republic written by Asian Development Bank and published by . This book was released on 2020-02-28 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an in-depth analysis of the sector reforms needed to enable the Kyrgyz Republic to achieve higher and more sustainable economic growth.
Download or read book Enhancing the Prospects for Growth and Trade of the Kyrgyz Republic written by World Bank and published by World Bank Publications. This book was released on 2005 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kyrgyz Republic has made major strides in the past decade in its transition to a market-based economy. Its trade and investment policies are arguably the most liberal among the member countries of the Commonwealth of Independent States. Despite the generally progressive stance on structural policies and a sound record of macroeconomic management in recent years, economic growth has been modest, living standards are low, a large burden of external debt has accumulated, and integration into global production and trade remains limited. The growth agenda must address more carefully the constraints to greater supply-side response to ongoing reforms--an agenda that can facilitate a broad-based growth of economic activity and exports. Risks to sustainability of current growth rates and continued poverty reduction will otherwise remain high as will the economy's vulnerability to external shocks. This report is aimed at assisting authorities fashioning this agenda by focusing on three key challenges: - Identifying strategic options to strengthen prospects for medium- and long-term growth and poverty reduction; - Assessing ways of leveraging domestic trade policy reforms and existing regional and multilateral trade agreements for further regional and global integration; and - Identifying key areas where greater efforts are necessary to facilitate improvements in enterprise capability and productivity.
Download or read book Kyrgyz Republic written by Weltbank and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This Country Economic Memorandum is aimed at helping the authorities in the Kyrgyz Republic identify factors explaining the apparent divergence between policies and outcomes, with a view to determining priorities for reform in the coming period. The main messages of the report are: 1) Kyrgyz policymakers should take advantage of the currently favorable nexus of a stable macro-environment, relatively strong gold production and international prices, and fast-growing neighboring markets, to address lingering policy and institutional deficiencies that limit the efficient restructuring of the economy away from its dependence on primary agriculture, mining and hydro-power. Action is needed to provide for more rapid progress with poverty reduction, and to mitigate the impact on the economy of an expected major decline in gold production by the end of the decade. Detailed quantitative analysis reveals a significant unrealized growth potential in agriculture and livestock products, agro processing and light manufacturing, based on prevailing inter-sectoral linkages in the Kyrgyz economy. 2) The prospects for successfully changing the growth pattern and trajectory, depend fundamentally on accelerated investment and export diversification. The contribution of foreign direct investments (FDI) to non-gold real sector investment has been minuscule over the past decade, limiting opportunities for much needed technology transfer and access to global value chains. The weaknesses of the export sector are reflected in the steady erosion of the Kyrgyz share of traditional regional markets. The report proposes a strategy for economic-cum-export diversification that requires simultaneous actions to address external, and domestic trade policy issues. Poor infrastructure, limited competitive pressures and low-level corruption, however, combine to raise trading costs to often prohibitively high levels. Safeguard measures remain a potential problem, and technical barriers to trade are pervasive in the CIS countries and elsewhere, although their impact on Kyrgyz exports has apparently been modest to date. Over the past few years, the government has adopted a range of measures aimed at reducing administrative barriers and strengthening the commercial legal system through a highly participatory reform process. In the end, however, it is firms not countries that are on the front line of international competition and business development. Favorable national circumstances, such as suppor...
Download or read book The Kyrgyz Republic written by Asian Development Bank and published by Asian Development Bank. This book was released on 2014-12-01 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kyrgyz Republic, among the poorest countries in Central Asia, has also been among the most open to economic reform. The country has experienced significant political and social instability since independence in 1991. In 2010, the country adopted a new constitution and became a parliamentary democracy. The government has set up an ambitious reform program. Yet, the Kyrgyz Republic faces serious challenges ahead. This publication examines factors constraining investments and inclusive economic growth, identifies gaps between policies and their implementation, and discusses options to overcome them.
Download or read book Enhancing the Prospects for Growth and Trade of the Kyrgyz Republic written by World Bank and published by World Bank Publications. This book was released on 2005 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kyrgyz Republic has made major strides in the past decade in its transition to a market-based economy. Its trade and investment policies are arguably the most liberal among the member countries of the Commonwealth of Independent States. Despite the generally progressive stance on structural policies and a sound record of macroeconomic management in recent years, economic growth has been modest, living standards are low, a large burden of external debt has accumulated, and integration into global production and trade remains limited. The growth agenda must address more carefully the constraints to greater supply-side response to ongoing reformsOCoan agenda that can facilitate a broad-based growth of economic activity and exports. Risks to sustainability of current growth rates and continued poverty reduction will otherwise remain high as will the economyOCOs vulnerability to external shocks. This report is aimed at assisting authorities fashioning this agenda by focusing on three key challenges: Identifying strategic options to strengthen prospects for medium- and long-term growth and poverty reduction; Assessing ways of leveraging domestic trade policy reforms and existing regional and multilateral trade agreements for further regional and global integration; and Identifying key areas where greater efforts are necessary to facilitate improvements in enterprise capability and productivity."
Download or read book Kyrgyz Republic written by Weltbank and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This Country Economic Memorandum is aimed at helping the authorities in the Kyrgyz Republic identify factors explaining the apparent divergence between policies and outcomes, with a view to determining priorities for reform in the coming period. The main messages of the report are: 1) Kyrgyz policymakers should take advantage of the currently favorable nexus of a stable macro-environment, relatively strong gold production and international prices, and fast-growing neighboring markets, to address lingering policy and institutional deficiencies that limit the efficient restructuring of the economy away from its dependence on primary agriculture, mining and hydro-power. Action is needed to provide for more rapid progress with poverty reduction, and to mitigate the impact on the economy of an expected major decline in gold production by the end of the decade. Detailed quantitative analysis reveals a significant unrealized growth potential in agriculture and livestock products, agro processing and light manufacturing, based on prevailing inter-sectoral linkages in the Kyrgyz economy. 2) The prospects for successfully changing the growth pattern and trajectory, depend fundamentally on accelerated investment and export diversification. The contribution of foreign direct investments (FDI) to non-gold real sector investment has been minuscule over the past decade, limiting opportunities for much needed technology transfer and access to global value chains. The weaknesses of the export sector are reflected in the steady erosion of the Kyrgyz share of traditional regional markets. The report proposes a strategy for economic-cum-export diversification that requires simultaneous actions to address external, and domestic trade policy issues. Poor infrastructure, limited competitive pressures and low-level corruption, however, combine to raise trading costs to often prohibitively high levels. Safeguard measures remain a potential problem, and technical barriers to trade are pervasive in the CIS countries and elsewhere, although their impact on Kyrgyz exports has apparently been modest to date. Over the past few years, the government has adopted a range of measures aimed at reducing administrative barriers and strengthening the commercial legal system through a highly participatory reform process. In the end, however, it is firms not countries that are on the front line of international competition and business development. Favorable national circumstances, such as suppor...
Download or read book Enhancing the Prospects for Growth and Trade of the Kyrgyz Republic written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kyrgyz Republic has made major strides in the past decade in its transition to a market-based economy. Its trade and investment policies are arguably the most liberal among the member countries of the Commonwealth of Independent States. Despite the generally progressive stance on structural policies and a sound record of macroeconomic management in recent years, economic growth has been modest, living standards are low, a large burden of external debt has accumulated, and integration into global production and trade remains limited. The growth agenda must address more carefully the constraints to greater supply-side response to ongoing reforms--an agenda that can facilitate a broad-based growth of economic activity and exports. Risks to sustainability of current growth rates and continued poverty reduction will otherwise remain high as will the economy's vulnerability to external shocks. This report is aimed at assisting authorities fashioning this agenda by focusing on three key challenges:Identifying strategic options to strengthen prospects for medium- and long-term growth and poverty reduction; Assessing ways of leveraging domestic trade policy reforms and existing regional and multilateral trade agreements for further regional and global integration; and Identifying key areas where greater efforts are necessary to facilitate improvements in enterprise capability and productivity.
Download or read book Kyrgyz Republic written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-11-28 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: The staff report for the Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility on the Kyrgyz Republic highlights recent economic developments and performance. The current account deficit continued to widen on account of higher imports driven by strong demand, but was more than financed by private capital inflows. Policy discussions focused on the challenges posed by the sharp uptick in inflation in the context of exogenous shocks and global financial turbulence. Continued fiscal restraint is important both for reducing inflation and for enhancing debt sustainability.
Download or read book Kyrgyz Republic written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Kyrgyz Republic written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-03-29 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: The staff report for the Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility on the Kyrgyz Republic highlights the economic developments and policies. To ensure that the external debt ratios fall, the program introduces a new indicative target for concessional public borrowing. Low inflation and strong productivity growth to contain unit labor costs are crucial to set up favorable conditions for nongold exports. The key to boost productivity is higher private investment, and the program focuses on improving the investment climate.
Download or read book Kyrgyz Republic written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-05-15 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the Medium-Term Development Program for the Kyrgyz Republic. The aim of this program is to put the economy of the country into a sustainable vector of development and improve the budget status to prevent social effects, increase living standard, and reduce poverty in the country. Implementation of the reforms anticipated by the Program will help to reduce the State budget deficit, enhance the fight against corruption, improve living standards, and decrease social tension in the society.
Download or read book Tourism in the Kyrgyz Republic written by Sadyrbek Kozhokulov and published by Springer Nature. This book was released on 2021-10-30 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to identify the impact of tourism on social and economic development in the Issyk-Kul region of Kyrgyzstan, and to predict the development of the tourism industry and identify any limiting factors for the development of the tourism industry in the Republic as a whole. The impacts of tourism on the region have been poorly understood since the country gained independence in 1991, and so improved methods for identifying and increasing the contribution of the tourism industry to the economic and social development of the region are needed. The book assesses the impact of tourism on the socio-economic situation in the Issyk-Kul region is assessed on the basis of statistical modelling and GIS mapping, provides a comparative analysis of the categories and types of tourism in the regions of the Republic, in particular in the Issyk-Kul region, and identifies factors that have a negative impact on the country’s tourism potential, as well as the shortcomings and prospects for future development. The book's primary audience will be scholars and researchers whose research focuses on the socio-economic impacts of tourism, as well as students and planners. It is expected that it will become a source of information and inspiration for all readers who feel responsible for initiating sustainable development and sustainable use of tourism resources in Kyrgyzstan and other countries.
Download or read book Kyrgyz Republic written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-11-09 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the Kyrgyz Republic’s First Review Under the Poverty Reduction and Growth Facility. The current account deficit remained broadly unchanged because of a significant increase in workers’ remittances, mainly from Russia and Kazakhstan. Large negative errors and omissions in the balance of payments suggest that the spring political events led to some capital flight. Structural reforms will continue to focus on developing the financial sector, addressing energy sector imbalances, and increasing labor market flexibility.
Download or read book Estimating the Neutral Interest Rate in the Kyrgyz Republic written by Iulia Ruxandra Teodoru and published by International Monetary Fund. This book was released on 2020-06-05 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates the neutral interest rate in the Kyrgyz Republic using a range of methodologies. Results indicate that the real neutral rate is about 4 percent based on an average of models and 3.7 percent based on a Quarterly Projection Model. This is higher than in many emerging markets and is likely explained by higher public debt and an elevated risk premium, low creditor rights and contractual enforcement, and low domestic savings. The use of an estimate of the neutral interest rate provides useful guidance to monetary policy and enhances transparency and independence of the central bank. Our estimate provides a quantitative benchmark for the monetary policy stance in the context of a central bank that is building analytical capacity, integrating additional insights in its decision-making process, and working to improve its communication. Strengthening the monetary transmission mechanism will be critical to enhance the effectiveness of monetary policy, including by allowing more exchange rate flexibility to support the transition to a full-fledged inflation targeting regime, and reducing excess liquidity to enhance the credit channel, reducing dollarization and high interest rate spreads that adversely affect the transmission of the policy rate to the economy.
Download or read book Kyrgyz Republic written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-07-03 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper identifies constraints to economic growth in the Kyrgyz Republic, using the Hausmann-Velasco-Rodrik diagnostic approach. It finds that large infrastructure gaps, weak governance and rule of law, and high cost of finance appear to be the most binding constraints to private investment and growth. Additional critical factors are the quality of education and onerous regulations. There is room to improve both the quality and cost/efficiency of education spending. Although relatively low, labor costs have exceeded productivity growth and there is room to improve labor market efficiency. Despite important investments, the infrastructure gap remains large and the country ranks relatively low on infrastructure quality. Weak governance undermines growth through various channels: investment, human capital, and productivity. Weak institutions increase the cost of doing business and make the appropriation of investment returns less certain, overall reducing investor’s risk appetite to invest. Public debt is on the high side and the composition of spending is tilted toward current spending.
Download or read book Kyrgyz Republic written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-06-08 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper discusses key findings of the Fourth Review Under the Poverty Reduction and Growth Facility (PRGF) for the Kyrgyz Republic. Output is rebounding and inflation remains subdued. However, most end-December 2006 and end-March 2007 structural benchmarks have been missed, partly because of political tensions that slowed the legislature. The 2007 program, which targets 61⁄2 percent output growth and 5 percent inflation, caps the fiscal deficit at 3.1 percent of GDP and maintains a prudent monetary policy. The government plans to implement delayed structural measures under the program, and strengthen external debt management.
