Kyrgyz Republic : Fiscal Sustainability Study

The study reviews the macroeconomic developments in the Kyrgyz Republic following the collapse of the Soviet Union, when adjustments were required since output fell by fifty percent between 1991-95, resulting in adverse fiscal consequences, which t...

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Main Author:	World Bank
Format:	Publication
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	DEBT RELIEF DEBT SUSTAINABILTY ENERGY SUBSIDIES FISCAL ADJUSTMENTS FISCAL SUSTAINABILITY MACROECONOMIC PLANNING MACROECONOMIC SHOCKS MACROECONOMIC STABILIZATION MARKET ECONOMY OUTPUTS PRIVATE SECTOR DEVELOPMENT PUBLIC INFRASTRUCTURE PUBLIC UTILITY REGULATION SOCIAL IMPLICATIONS STRUCTURAL REFORMS TAX REVENUES TAX SYSTEMS INDIRECT TAXATION VALUE ADDED TAXES EXCISE TAXES LOCAL TAXES DIRECT TAXATION PERSONAL INCOME TAX LAND TAXES UTILITIES TARIFFS EXTERNAL FINANCE ACCOUNTABILITY ACCOUNTING ADB ADMINISTRATIVE COSTS ADVERSE CONSEQUENCES AFFILIATES AGRICULTURE AUTONOMY BARRIERS TO ENTRY BENEFIT CHARGES BORROWING BUDGETARY SUPPORT CIVIL SERVICE COAL COMMERCIAL BANKS COMMERCIAL DEBT COMPETITIVENESS CONSUMERS CONSUMPTION LEVELS CREDITORS DEBT DEBT BURDEN DEBT OBLIGATIONS DEBT OUTSTANDING DEBT PROFILE DEBT REDUCTION DEBT RESCHEDULING DEBT RESOLUTION DEBT SERVICE DEBT SERVICE BURDEN DEBT SUSTAINABILITY DEBTS DEFICIT REDUCTION DEVELOPMENT ASSISTANCE DISTORTED INCENTIVES ECONOMIC GROWTH ELECTRICITY EVASION EXCHANGE RATE EXCHANGE RATES EXPENDITURES EXPORTS EXTERNAL DEBT EXTERNAL DEBT INDICATORS FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL SECTOR FISCAL DEFICITS FOREIGN BORROWING FOREIGN DEBT FUELS GOVERNMENT BUDGET CONSTRAINTS GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HOUSING IMPORTS INCOME INCOME TAX INEFFICIENCY INFLATION INFLATION RATES LABOR PRODUCTIVITY LEGISLATION LICENSES LIQUIDITY LOW TARIFFS MACROECONOMIC STABILITY MONETARY POLICY OPEC OPERATING COSTS PAYMENT ARREARS PRESENT VALUE PRESENT VALUE OF DEBT PRICE INCREASES PRICE SUBSIDIES PRIVATE CONSUMPTION PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCERS PROFITABILITY PROVISIONS PUBLIC COMPANIES PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC UTILITIES REAL GDP REAL INTEREST RATE RELATIVE VALUE RESOURCE USE REVENUE SOURCES SAVINGS SERVICE CAPACITY STATE PROPERTY STRUCTURAL ADJUSTMENT T-BILLS TAX TAX CREDITS TAX EFFORTS TAX EXEMPTIONS TAX RATES TAX REFORMS TAXATION TAXPAYERS TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TURNOVER TAXES UNEMPLOYMENT VALUE ADDED VALUE ADDED TAX VOTERS WORLD TRADE ORGANIZATION WTO
Online Access:	http://documents.worldbank.org/curated/en/2001/12/1652162/kyrgyz-republic-fiscal-sustainability-study http://hdl.handle.net/10986/14031

id	okr-10986-14031
recordtype	oai_dc
spelling	okr-10986-140312021-04-23T14:03:10Z Kyrgyz Republic : Fiscal Sustainability Study World Bank DEBT RELIEF DEBT SUSTAINABILTY ENERGY SUBSIDIES FISCAL ADJUSTMENTS FISCAL SUSTAINABILITY MACROECONOMIC PLANNING MACROECONOMIC SHOCKS MACROECONOMIC STABILIZATION MARKET ECONOMY OUTPUTS PRIVATE SECTOR DEVELOPMENT PUBLIC INFRASTRUCTURE PUBLIC UTILITY REGULATION SOCIAL IMPLICATIONS STRUCTURAL REFORMS TAX REVENUES TAX SYSTEMS INDIRECT TAXATION VALUE ADDED TAXES EXCISE TAXES LOCAL TAXES DIRECT TAXATION PERSONAL INCOME TAX LAND TAXES UTILITIES TARIFFS EXTERNAL FINANCE ACCOUNTABILITY ACCOUNTING ADB ADMINISTRATIVE COSTS ADVERSE CONSEQUENCES AFFILIATES AGRICULTURE AUTONOMY BARRIERS TO ENTRY BENEFIT CHARGES BORROWING BUDGETARY SUPPORT CIVIL SERVICE COAL COMMERCIAL BANKS COMMERCIAL DEBT COMPETITIVENESS CONSUMERS CONSUMPTION LEVELS CREDITORS DEBT DEBT BURDEN DEBT OBLIGATIONS DEBT OUTSTANDING DEBT PROFILE DEBT REDUCTION DEBT RELIEF DEBT RESCHEDULING DEBT RESOLUTION DEBT SERVICE DEBT SERVICE BURDEN DEBT SUSTAINABILITY DEBTS DEFICIT REDUCTION DEVELOPMENT ASSISTANCE DISTORTED INCENTIVES ECONOMIC GROWTH ELECTRICITY EVASION EXCHANGE RATE EXCHANGE RATES EXCISE TAXES EXPENDITURES EXPORTS EXTERNAL DEBT EXTERNAL DEBT INDICATORS FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL SECTOR FISCAL DEFICITS FOREIGN BORROWING FOREIGN DEBT FUELS GOVERNMENT BUDGET CONSTRAINTS GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HOUSING IMPORTS INCOME INCOME TAX INEFFICIENCY INFLATION INFLATION RATES LABOR PRODUCTIVITY LAND TAXES LEGISLATION LICENSES LIQUIDITY LOCAL TAXES LOW TARIFFS MACROECONOMIC STABILITY MONETARY POLICY OPEC OPERATING COSTS PAYMENT ARREARS PRESENT VALUE PRESENT VALUE OF DEBT PRICE INCREASES PRICE SUBSIDIES PRIVATE CONSUMPTION PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCERS PROFITABILITY PROVISIONS PUBLIC COMPANIES PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC UTILITIES REAL GDP REAL INTEREST RATE RELATIVE VALUE RESOURCE USE REVENUE SOURCES SAVINGS SERVICE CAPACITY STATE PROPERTY STRUCTURAL ADJUSTMENT T-BILLS TAX TAX CREDITS TAX EFFORTS TAX EXEMPTIONS TAX RATES TAX REFORMS TAX REVENUES TAXATION TAXPAYERS TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TURNOVER TAXES UNEMPLOYMENT VALUE ADDED VALUE ADDED TAX VOTERS WORLD TRADE ORGANIZATION WTO The study reviews the macroeconomic developments in the Kyrgyz Republic following the collapse of the Soviet Union, when adjustments were required since output fell by fifty percent between 1991-95, resulting in adverse fiscal consequences, which triggered losses in tax revenues, along with the implicit end of energy subsidies. Part I examines the fiscal, and debt sustainability, proposing a three-fold strategy: a) efforts for an urgent renewal are needed to consolidate macroeconomic stability -- fundamentally, a significant fiscal adjustment is required; b) debt relief should be considered, given the large burden, and there is the need to preserve social expenditures; and c) decisive structural reforms are necessary to underpin fiscal adjustment, and increase the efficiency of resource uses. Part II examines the structural issues, particularly the tax system, and the role of the state in infrastructure and utilities, focusing on accelerating the transformation of public infrastructure and utility companies, and how to improve taxation. The report also emphasizes a transparent and targeted system in the provision of basic services to the poor, through reform policies and the inclusion of the private sector. 2013-06-19T20:19:02Z 2013-06-19T20:19:02Z 2001-12 http://documents.worldbank.org/curated/en/2001/12/1652162/kyrgyz-republic-fiscal-sustainability-study 0-8213-5051-X http://hdl.handle.net/10986/14031 English en_US A World Bank country study; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Publications & Research :: Publication Publications & Research :: Publication Europe and Central Asia Kyrgyz Republic
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	DEBT RELIEF DEBT SUSTAINABILTY ENERGY SUBSIDIES FISCAL ADJUSTMENTS FISCAL SUSTAINABILITY MACROECONOMIC PLANNING MACROECONOMIC SHOCKS MACROECONOMIC STABILIZATION MARKET ECONOMY OUTPUTS PRIVATE SECTOR DEVELOPMENT PUBLIC INFRASTRUCTURE PUBLIC UTILITY REGULATION SOCIAL IMPLICATIONS STRUCTURAL REFORMS TAX REVENUES TAX SYSTEMS INDIRECT TAXATION VALUE ADDED TAXES EXCISE TAXES LOCAL TAXES DIRECT TAXATION PERSONAL INCOME TAX LAND TAXES UTILITIES TARIFFS EXTERNAL FINANCE ACCOUNTABILITY ACCOUNTING ADB ADMINISTRATIVE COSTS ADVERSE CONSEQUENCES AFFILIATES AGRICULTURE AUTONOMY BARRIERS TO ENTRY BENEFIT CHARGES BORROWING BUDGETARY SUPPORT CIVIL SERVICE COAL COMMERCIAL BANKS COMMERCIAL DEBT COMPETITIVENESS CONSUMERS CONSUMPTION LEVELS CREDITORS DEBT DEBT BURDEN DEBT OBLIGATIONS DEBT OUTSTANDING DEBT PROFILE DEBT REDUCTION DEBT RELIEF DEBT RESCHEDULING DEBT RESOLUTION DEBT SERVICE DEBT SERVICE BURDEN DEBT SUSTAINABILITY DEBTS DEFICIT REDUCTION DEVELOPMENT ASSISTANCE DISTORTED INCENTIVES ECONOMIC GROWTH ELECTRICITY EVASION EXCHANGE RATE EXCHANGE RATES EXCISE TAXES EXPENDITURES EXPORTS EXTERNAL DEBT EXTERNAL DEBT INDICATORS FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL SECTOR FISCAL DEFICITS FOREIGN BORROWING FOREIGN DEBT FUELS GOVERNMENT BUDGET CONSTRAINTS GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HOUSING IMPORTS INCOME INCOME TAX INEFFICIENCY INFLATION INFLATION RATES LABOR PRODUCTIVITY LAND TAXES LEGISLATION LICENSES LIQUIDITY LOCAL TAXES LOW TARIFFS MACROECONOMIC STABILITY MONETARY POLICY OPEC OPERATING COSTS PAYMENT ARREARS PRESENT VALUE PRESENT VALUE OF DEBT PRICE INCREASES PRICE SUBSIDIES PRIVATE CONSUMPTION PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCERS PROFITABILITY PROVISIONS PUBLIC COMPANIES PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC UTILITIES REAL GDP REAL INTEREST RATE RELATIVE VALUE RESOURCE USE REVENUE SOURCES SAVINGS SERVICE CAPACITY STATE PROPERTY STRUCTURAL ADJUSTMENT T-BILLS TAX TAX CREDITS TAX EFFORTS TAX EXEMPTIONS TAX RATES TAX REFORMS TAX REVENUES TAXATION TAXPAYERS TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TURNOVER TAXES UNEMPLOYMENT VALUE ADDED VALUE ADDED TAX VOTERS WORLD TRADE ORGANIZATION WTO
spellingShingle	DEBT RELIEF DEBT SUSTAINABILTY ENERGY SUBSIDIES FISCAL ADJUSTMENTS FISCAL SUSTAINABILITY MACROECONOMIC PLANNING MACROECONOMIC SHOCKS MACROECONOMIC STABILIZATION MARKET ECONOMY OUTPUTS PRIVATE SECTOR DEVELOPMENT PUBLIC INFRASTRUCTURE PUBLIC UTILITY REGULATION SOCIAL IMPLICATIONS STRUCTURAL REFORMS TAX REVENUES TAX SYSTEMS INDIRECT TAXATION VALUE ADDED TAXES EXCISE TAXES LOCAL TAXES DIRECT TAXATION PERSONAL INCOME TAX LAND TAXES UTILITIES TARIFFS EXTERNAL FINANCE ACCOUNTABILITY ACCOUNTING ADB ADMINISTRATIVE COSTS ADVERSE CONSEQUENCES AFFILIATES AGRICULTURE AUTONOMY BARRIERS TO ENTRY BENEFIT CHARGES BORROWING BUDGETARY SUPPORT CIVIL SERVICE COAL COMMERCIAL BANKS COMMERCIAL DEBT COMPETITIVENESS CONSUMERS CONSUMPTION LEVELS CREDITORS DEBT DEBT BURDEN DEBT OBLIGATIONS DEBT OUTSTANDING DEBT PROFILE DEBT REDUCTION DEBT RELIEF DEBT RESCHEDULING DEBT RESOLUTION DEBT SERVICE DEBT SERVICE BURDEN DEBT SUSTAINABILITY DEBTS DEFICIT REDUCTION DEVELOPMENT ASSISTANCE DISTORTED INCENTIVES ECONOMIC GROWTH ELECTRICITY EVASION EXCHANGE RATE EXCHANGE RATES EXCISE TAXES EXPENDITURES EXPORTS EXTERNAL DEBT EXTERNAL DEBT INDICATORS FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL SECTOR FISCAL DEFICITS FOREIGN BORROWING FOREIGN DEBT FUELS GOVERNMENT BUDGET CONSTRAINTS GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HOUSING IMPORTS INCOME INCOME TAX INEFFICIENCY INFLATION INFLATION RATES LABOR PRODUCTIVITY LAND TAXES LEGISLATION LICENSES LIQUIDITY LOCAL TAXES LOW TARIFFS MACROECONOMIC STABILITY MONETARY POLICY OPEC OPERATING COSTS PAYMENT ARREARS PRESENT VALUE PRESENT VALUE OF DEBT PRICE INCREASES PRICE SUBSIDIES PRIVATE CONSUMPTION PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCERS PROFITABILITY PROVISIONS PUBLIC COMPANIES PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC UTILITIES REAL GDP REAL INTEREST RATE RELATIVE VALUE RESOURCE USE REVENUE SOURCES SAVINGS SERVICE CAPACITY STATE PROPERTY STRUCTURAL ADJUSTMENT T-BILLS TAX TAX CREDITS TAX EFFORTS TAX EXEMPTIONS TAX RATES TAX REFORMS TAX REVENUES TAXATION TAXPAYERS TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TURNOVER TAXES UNEMPLOYMENT VALUE ADDED VALUE ADDED TAX VOTERS WORLD TRADE ORGANIZATION WTO World Bank Kyrgyz Republic : Fiscal Sustainability Study
geographic_facet	Europe and Central Asia Kyrgyz Republic
relation	A World Bank country study;
description	The study reviews the macroeconomic developments in the Kyrgyz Republic following the collapse of the Soviet Union, when adjustments were required since output fell by fifty percent between 1991-95, resulting in adverse fiscal consequences, which triggered losses in tax revenues, along with the implicit end of energy subsidies. Part I examines the fiscal, and debt sustainability, proposing a three-fold strategy: a) efforts for an urgent renewal are needed to consolidate macroeconomic stability -- fundamentally, a significant fiscal adjustment is required; b) debt relief should be considered, given the large burden, and there is the need to preserve social expenditures; and c) decisive structural reforms are necessary to underpin fiscal adjustment, and increase the efficiency of resource uses. Part II examines the structural issues, particularly the tax system, and the role of the state in infrastructure and utilities, focusing on accelerating the transformation of public infrastructure and utility companies, and how to improve taxation. The report also emphasizes a transparent and targeted system in the provision of basic services to the poor, through reform policies and the inclusion of the private sector.
format	Publications & Research :: Publication
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Kyrgyz Republic : Fiscal Sustainability Study
title_short	Kyrgyz Republic : Fiscal Sustainability Study
title_full	Kyrgyz Republic : Fiscal Sustainability Study
title_fullStr	Kyrgyz Republic : Fiscal Sustainability Study
title_full_unstemmed	Kyrgyz Republic : Fiscal Sustainability Study
title_sort	kyrgyz republic : fiscal sustainability study
publisher	Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2001/12/1652162/kyrgyz-republic-fiscal-sustainability-study http://hdl.handle.net/10986/14031
_version_	1764425037410992128

Kyrgyz Republic : Fiscal Sustainability Study

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