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
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	FISCAL SUSTAINABILITY MACROECONOMIC PLANNING MACROECONOMIC SHOCKS OUTPUTS FISCAL ADJUSTMENTS TAX REVENUES TAX SYSTEMS ENERGY SUBSIDIES DEBT SUSTAINABILTY MACROECONOMIC STABILIZATION DEBT RELIEF SOCIAL IMPLICATIONS STRUCTURAL REFORMS RESOURCE PLANNING PUBLIC INFRASTRUCTURE PUBLIC UTILITY REGULATION BASIC SERVICES POVERTY REDUCTION PRIVATE SECTOR DEVELOPMENT MARKET ECONOMY REFORM POLICY 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 INTEREST 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 EXCISE TAXES EXPENDITURES EXPORTS EXTERNAL DEBT EXTERNAL DEBT INDICATORS FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL SECTOR FISCAL DEFICITS FISCAL YEAR FOREIGN BORROWING FOREIGN DEBT FUELS GDP GOVERNMENT BUDGET CONSTRAINTS GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HOUSING IMPORTS INCOME INCOME TAX INEFFICIENCY INFLATION INFLATION RATES INTEREST RATE LABOR PRODUCTIVITY LAND TAXES LEGISLATION 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 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 REFORM TAX REFORMS TAXATION TAXPAYERS TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TURNOVER TAXES UNEMPLOYMENT UTILITIES VALUE ADDED VALUE ADDED TAX VOTERS WORLD TRADE ORGANIZATION WTO
Online Access:	http://documents.worldbank.org/curated/en/2000/06/436937/kyrgyz-republic-fiscal-sustainability-study http://hdl.handle.net/10986/15268

id	okr-10986-15268
recordtype	oai_dc
spelling	okr-10986-152682021-04-23T14:03:15Z Kyrgyz Republic : Fiscal Sustainability Study World Bank FISCAL SUSTAINABILITY MACROECONOMIC PLANNING MACROECONOMIC SHOCKS OUTPUTS FISCAL ADJUSTMENTS TAX REVENUES TAX SYSTEMS ENERGY SUBSIDIES DEBT SUSTAINABILTY MACROECONOMIC STABILIZATION DEBT RELIEF SOCIAL IMPLICATIONS STRUCTURAL REFORMS RESOURCE PLANNING PUBLIC INFRASTRUCTURE PUBLIC UTILITY REGULATION BASIC SERVICES POVERTY REDUCTION PRIVATE SECTOR DEVELOPMENT MARKET ECONOMY REFORM POLICY 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 INTEREST 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 FISCAL YEAR FOREIGN BORROWING FOREIGN DEBT FUELS GDP GOVERNMENT BUDGET CONSTRAINTS GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HOUSING IMPORTS INCOME INCOME TAX INEFFICIENCY INFLATION INFLATION RATES INTEREST RATE LABOR PRODUCTIVITY LAND TAXES LEGISLATION 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 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 REFORM TAX REFORMS TAX REVENUES TAXATION TAXPAYERS TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TURNOVER TAXES UNEMPLOYMENT UTILITIES 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 : efforts for an urgent renewal, are needed to consolidate macroeconomic stability, fundamentally, a significant fiscal adjustment is required; debt relief should be considered, given the large burden, and the need to preserve social expenditures; and, decisive structural reforms are necessary to underpin fiscal adjustment, and increase the efficiency of resource uses. Part II examine these 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, improve taxation. The report analyzes this transformation, emphasizing a transparent, and targeted system in the provision of basic services to the poor, through reform policies, and the inclusion of the private sector, critical to reflect cost-effectiveness, and adapt to the requirements of a market economy. 2013-08-21T20:08:44Z 2013-08-21T20:08:44Z 2000-06 http://documents.worldbank.org/curated/en/2000/06/436937/kyrgyz-republic-fiscal-sustainability-study http://hdl.handle.net/10986/15268 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC 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	FISCAL SUSTAINABILITY MACROECONOMIC PLANNING MACROECONOMIC SHOCKS OUTPUTS FISCAL ADJUSTMENTS TAX REVENUES TAX SYSTEMS ENERGY SUBSIDIES DEBT SUSTAINABILTY MACROECONOMIC STABILIZATION DEBT RELIEF SOCIAL IMPLICATIONS STRUCTURAL REFORMS RESOURCE PLANNING PUBLIC INFRASTRUCTURE PUBLIC UTILITY REGULATION BASIC SERVICES POVERTY REDUCTION PRIVATE SECTOR DEVELOPMENT MARKET ECONOMY REFORM POLICY 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 INTEREST 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 FISCAL YEAR FOREIGN BORROWING FOREIGN DEBT FUELS GDP GOVERNMENT BUDGET CONSTRAINTS GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HOUSING IMPORTS INCOME INCOME TAX INEFFICIENCY INFLATION INFLATION RATES INTEREST RATE LABOR PRODUCTIVITY LAND TAXES LEGISLATION 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 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 REFORM TAX REFORMS TAX REVENUES TAXATION TAXPAYERS TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TURNOVER TAXES UNEMPLOYMENT UTILITIES VALUE ADDED VALUE ADDED TAX VOTERS WORLD TRADE ORGANIZATION WTO
spellingShingle	FISCAL SUSTAINABILITY MACROECONOMIC PLANNING MACROECONOMIC SHOCKS OUTPUTS FISCAL ADJUSTMENTS TAX REVENUES TAX SYSTEMS ENERGY SUBSIDIES DEBT SUSTAINABILTY MACROECONOMIC STABILIZATION DEBT RELIEF SOCIAL IMPLICATIONS STRUCTURAL REFORMS RESOURCE PLANNING PUBLIC INFRASTRUCTURE PUBLIC UTILITY REGULATION BASIC SERVICES POVERTY REDUCTION PRIVATE SECTOR DEVELOPMENT MARKET ECONOMY REFORM POLICY 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 INTEREST 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 FISCAL YEAR FOREIGN BORROWING FOREIGN DEBT FUELS GDP GOVERNMENT BUDGET CONSTRAINTS GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HOUSING IMPORTS INCOME INCOME TAX INEFFICIENCY INFLATION INFLATION RATES INTEREST RATE LABOR PRODUCTIVITY LAND TAXES LEGISLATION 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 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 REFORM TAX REFORMS TAX REVENUES TAXATION TAXPAYERS TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TURNOVER TAXES UNEMPLOYMENT UTILITIES 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
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 : efforts for an urgent renewal, are needed to consolidate macroeconomic stability, fundamentally, a significant fiscal adjustment is required; debt relief should be considered, given the large burden, and the need to preserve social expenditures; and, decisive structural reforms are necessary to underpin fiscal adjustment, and increase the efficiency of resource uses. Part II examine these 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, improve taxation. The report analyzes this transformation, emphasizing a transparent, and targeted system in the provision of basic services to the poor, through reform policies, and the inclusion of the private sector, critical to reflect cost-effectiveness, and adapt to the requirements of a market economy.
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/2000/06/436937/kyrgyz-republic-fiscal-sustainability-study http://hdl.handle.net/10986/15268
_version_	1764427305758752768

Kyrgyz Republic : Fiscal Sustainability Study

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