Kyrgyz Republic : Moderating Growth and a Challenging Outlook

Political developments at home and abroad have been prominent this year. Domestically, a new government was formed quickly after one of the coalition parties withdrew the support to Prime Minister Satylbaldiev in March, 2014. The new government, le...

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Bibliographic Details
Main Author: World Bank Group
Format: Economic Updates and Modeling
Language:English
en_US
Published: Washington, DC 2014
Subjects:
GDP
M2
OIL
TAX
Online Access:http://documents.worldbank.org/curated/en/2014/01/20317273/kyrgyz-republic-moderating-growth-challenging-outlook
http://hdl.handle.net/10986/20673
id okr-10986-20673
recordtype oai_dc
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 ACCOUNTING
ADVERSE IMPACT
AGRICULTURE
ARREARS
BALANCE OF PAYMENTS
BANKING SECTOR
BARLEY
BASIS POINTS
BROAD MONEY
BUDGET DEFICIT
BUFFERS
BUSINESS ENVIRONMENT
CAPACITY CONSTRAINTS
CAPITAL ADEQUACY
CASH HOLDINGS
CENTRAL BANK
COMMERCIAL BANKS
COMMODITY
COMMODITY EXPORTS
COMMODITY PRICES
COMPETITIVENESS
COMPLIANCE COSTS
CONNECTIVITY
CONSOLIDATION
CONSUMERS
CONSUMPTION GROWTH
CORE INFLATION
CREATION OF JOBS
CREDIT EXPANSION
CREDIT FACILITY
CREDIT GROWTH
CURRENCY
CURRENT ACCOUNT
CURRENT ACCOUNT BALANCE
CURRENT ACCOUNT DEFICIT
CUSTOMS DUTIES
CUSTOMS UNION
DEBT
DEBT FINANCING
DEMAND FOR CREDIT
DEPOSIT
DEPOSITS
DEPRECIATION
DEVALUATION
DEVELOPMENT BANK
DEVELOPMENT PROJECTS
DEVELOPMENT STRATEGY
DISBURSEMENTS
DISCOUNT RATE
DISPOSABLE INCOME
DOMESTIC DEMAND
DOMESTIC PRICES
ECONOMIC ACTIVITY
ECONOMIC DEVELOPMENTS
ECONOMIC GROWTH
ECONOMIC OUTLOOK
ECONOMIC SLOWDOWN
ECONOMIC TRANSACTIONS
ELASTICITY
EQUIPMENT
EXCHANGE RATE
EXCHANGE RATE POLICIES
EXPENDITURE
EXPENDITURES
EXPORT VOLUME
EXPORTERS
EXPOSURE
EXTERNAL DEBT
EXTERNAL DEFICIT
EXTERNAL DEMAND
EXTERNAL SHOCKS
EXTREME POVERTY
FINANCIAL FLOWS
FINANCIAL INFLOWS
FINANCIAL MANAGEMENT
FINANCIAL MARKET
FINANCIAL MARKET DEVELOPMENT
FINANCIAL SECTOR
FINANCIAL SECTOR INDICATORS
FINANCIAL SERVICES
FISCAL BALANCE
FISCAL DEFICIT
FISCAL POLICY
FLOATING EXCHANGE RATE
FLOATING EXCHANGE RATE REGIME
FOOD PRICE
FOOD PRICES
FOREIGN DIRECT INVESTMENT
FOREIGN EXCHANGE
FOREIGN EXCHANGE MARKET
FOREIGN INFLOWS
FOREIGN LOANS
FOREIGN TRADE
FRAUD
GDP
GDP PER CAPITA
GEOPOLITICAL TENSIONS
GOLD
GOLD PRICES
GOVERNMENT BORROWING
GOVERNMENT DEBT
GOVERNMENT INVESTMENT
GOVERNMENT POLICY
GOVERNMENT SPENDING
GROWTH RATE
GROWTH RATES
HUMAN CAPITAL
HUMAN DEVELOPMENT
IMBALANCE
IMPORT
IMPORTS
INCOME TAX
INFLATION
INFLATIONARY PRESSURES
INSURANCE
INTEREST RATE
INTEREST RATES
INTERNATIONAL PRICES
INTERNATIONAL RESERVES
INVESTMENT LEVELS
INVESTMENT PROJECTS
ISSUANCE
JOB CREATION
JUDICIAL REFORM
JURISDICTIONS
LABOR FORCE
LABOR MARKET
LABOR MARKETS
LAW ENFORCEMENT
LIQUIDITY
LOAN
LOSS OF REVENUES
M2
MACROECONOMIC ENVIRONMENT
MACROECONOMIC POLICIES
MACROECONOMIC STABILITY
MARKET ACCESS
MARKET DEVELOPMENT
MARKET EFFICIENCY
MARKET SHARE
MARKET SIZE
METALS
MONETARY AGGREGATES
MONETARY CONDITIONS
MONETARY POLICY
MONEY SUPPLY
NATIONAL BANK
NATURAL RESOURCE
NET CAPITAL
NOMINAL EXCHANGE RATE
NON-PERFORMING LOANS
OIL
OIL PRICES
OUTPUT
PENSION
PENSION REFORMS
PENSIONS
POPULATION GROWTH
PORTFOLIO
POVERTY REDUCTION
PREFERENTIAL ACCESS
PRICE CHANGES
PRICE INCREASES
PRICE STABILITY
PRIVATE SECTOR DEVELOPMENT
PRODUCERS
PRODUCTION COSTS
PUBLIC DEBT
PUBLIC EXPENDITURE
PUBLIC INVESTMENT
PUBLIC INVESTMENTS
PUBLIC SPENDING
PURCHASING POWER
RAPID CREDIT EXPANSION
RAPID EXPANSION
RAPID GROWTH
RE-EXPORTS
REAL APPRECIATION
REAL EFFECTIVE EXCHANGE RATE
REAL EXCHANGE RATE
REAL EXPORT
REAL GDP
REAL IMPORT
REAL WAGES
REGISTRY SYSTEMS
REGULATORY REFORM
REMITTANCES
REMUNERATION
RESERVE
RESERVE ACCUMULATION
RESERVE MONEY
RESERVES
RESOURCE MANAGEMENT
RETURN
RETURN ON ASSETS
SECTOR REFORM
SECTOR REFORMS
SETTLEMENT
SHORTFALL
SLOWDOWN
SOCIAL FUND
STRONG DEMAND
STRUCTURAL REFORMS
SUPPLY DISRUPTIONS
SURPLUS
TARIFF POLICIES
TARIFFS ON IMPORTS
TAX
TAX COLLECTION
TAX POLICY
TAX RATES
TAX REVENUES
TAXATION
TELECOMMUNICATIONS
TERMS OF TRADE
TOTAL EXPORTS
TRACK RECORD
TRADE BALANCE
TRADE DEFICIT
TRADE FACILITATION
TRADE RELATIONS
TRADING
TRADING PARTNERS
TRANSBOUNDARY RIVER BASINS
TRANSPARENCY
TREASURY
TREASURY BILL
TREASURY BILL RATE
TREATY
UNCERTAINTY
UNEMPLOYMENT
UNEMPLOYMENT RATE
VOLATILITY
WAGE GROWTH
WEIGHTS
WHOLESALE MARKETS
WITHDRAWAL
spellingShingle ACCOUNTING
ADVERSE IMPACT
AGRICULTURE
ARREARS
BALANCE OF PAYMENTS
BANKING SECTOR
BARLEY
BASIS POINTS
BROAD MONEY
BUDGET DEFICIT
BUFFERS
BUSINESS ENVIRONMENT
CAPACITY CONSTRAINTS
CAPITAL ADEQUACY
CASH HOLDINGS
CENTRAL BANK
COMMERCIAL BANKS
COMMODITY
COMMODITY EXPORTS
COMMODITY PRICES
COMPETITIVENESS
COMPLIANCE COSTS
CONNECTIVITY
CONSOLIDATION
CONSUMERS
CONSUMPTION GROWTH
CORE INFLATION
CREATION OF JOBS
CREDIT EXPANSION
CREDIT FACILITY
CREDIT GROWTH
CURRENCY
CURRENT ACCOUNT
CURRENT ACCOUNT BALANCE
CURRENT ACCOUNT DEFICIT
CUSTOMS DUTIES
CUSTOMS UNION
DEBT
DEBT FINANCING
DEMAND FOR CREDIT
DEPOSIT
DEPOSITS
DEPRECIATION
DEVALUATION
DEVELOPMENT BANK
DEVELOPMENT PROJECTS
DEVELOPMENT STRATEGY
DISBURSEMENTS
DISCOUNT RATE
DISPOSABLE INCOME
DOMESTIC DEMAND
DOMESTIC PRICES
ECONOMIC ACTIVITY
ECONOMIC DEVELOPMENTS
ECONOMIC GROWTH
ECONOMIC OUTLOOK
ECONOMIC SLOWDOWN
ECONOMIC TRANSACTIONS
ELASTICITY
EQUIPMENT
EXCHANGE RATE
EXCHANGE RATE POLICIES
EXPENDITURE
EXPENDITURES
EXPORT VOLUME
EXPORTERS
EXPOSURE
EXTERNAL DEBT
EXTERNAL DEFICIT
EXTERNAL DEMAND
EXTERNAL SHOCKS
EXTREME POVERTY
FINANCIAL FLOWS
FINANCIAL INFLOWS
FINANCIAL MANAGEMENT
FINANCIAL MARKET
FINANCIAL MARKET DEVELOPMENT
FINANCIAL SECTOR
FINANCIAL SECTOR INDICATORS
FINANCIAL SERVICES
FISCAL BALANCE
FISCAL DEFICIT
FISCAL POLICY
FLOATING EXCHANGE RATE
FLOATING EXCHANGE RATE REGIME
FOOD PRICE
FOOD PRICES
FOREIGN DIRECT INVESTMENT
FOREIGN EXCHANGE
FOREIGN EXCHANGE MARKET
FOREIGN INFLOWS
FOREIGN LOANS
FOREIGN TRADE
FRAUD
GDP
GDP PER CAPITA
GEOPOLITICAL TENSIONS
GOLD
GOLD PRICES
GOVERNMENT BORROWING
GOVERNMENT DEBT
GOVERNMENT INVESTMENT
GOVERNMENT POLICY
GOVERNMENT SPENDING
GROWTH RATE
GROWTH RATES
HUMAN CAPITAL
HUMAN DEVELOPMENT
IMBALANCE
IMPORT
IMPORTS
INCOME TAX
INFLATION
INFLATIONARY PRESSURES
INSURANCE
INTEREST RATE
INTEREST RATES
INTERNATIONAL PRICES
INTERNATIONAL RESERVES
INVESTMENT LEVELS
INVESTMENT PROJECTS
ISSUANCE
JOB CREATION
JUDICIAL REFORM
JURISDICTIONS
LABOR FORCE
LABOR MARKET
LABOR MARKETS
LAW ENFORCEMENT
LIQUIDITY
LOAN
LOSS OF REVENUES
M2
MACROECONOMIC ENVIRONMENT
MACROECONOMIC POLICIES
MACROECONOMIC STABILITY
MARKET ACCESS
MARKET DEVELOPMENT
MARKET EFFICIENCY
MARKET SHARE
MARKET SIZE
METALS
MONETARY AGGREGATES
MONETARY CONDITIONS
MONETARY POLICY
MONEY SUPPLY
NATIONAL BANK
NATURAL RESOURCE
NET CAPITAL
NOMINAL EXCHANGE RATE
NON-PERFORMING LOANS
OIL
OIL PRICES
OUTPUT
PENSION
PENSION REFORMS
PENSIONS
POPULATION GROWTH
PORTFOLIO
POVERTY REDUCTION
PREFERENTIAL ACCESS
PRICE CHANGES
PRICE INCREASES
PRICE STABILITY
PRIVATE SECTOR DEVELOPMENT
PRODUCERS
PRODUCTION COSTS
PUBLIC DEBT
PUBLIC EXPENDITURE
PUBLIC INVESTMENT
PUBLIC INVESTMENTS
PUBLIC SPENDING
PURCHASING POWER
RAPID CREDIT EXPANSION
RAPID EXPANSION
RAPID GROWTH
RE-EXPORTS
REAL APPRECIATION
REAL EFFECTIVE EXCHANGE RATE
REAL EXCHANGE RATE
REAL EXPORT
REAL GDP
REAL IMPORT
REAL WAGES
REGISTRY SYSTEMS
REGULATORY REFORM
REMITTANCES
REMUNERATION
RESERVE
RESERVE ACCUMULATION
RESERVE MONEY
RESERVES
RESOURCE MANAGEMENT
RETURN
RETURN ON ASSETS
SECTOR REFORM
SECTOR REFORMS
SETTLEMENT
SHORTFALL
SLOWDOWN
SOCIAL FUND
STRONG DEMAND
STRUCTURAL REFORMS
SUPPLY DISRUPTIONS
SURPLUS
TARIFF POLICIES
TARIFFS ON IMPORTS
TAX
TAX COLLECTION
TAX POLICY
TAX RATES
TAX REVENUES
TAXATION
TELECOMMUNICATIONS
TERMS OF TRADE
TOTAL EXPORTS
TRACK RECORD
TRADE BALANCE
TRADE DEFICIT
TRADE FACILITATION
TRADE RELATIONS
TRADING
TRADING PARTNERS
TRANSBOUNDARY RIVER BASINS
TRANSPARENCY
TREASURY
TREASURY BILL
TREASURY BILL RATE
TREATY
UNCERTAINTY
UNEMPLOYMENT
UNEMPLOYMENT RATE
VOLATILITY
WAGE GROWTH
WEIGHTS
WHOLESALE MARKETS
WITHDRAWAL
World Bank Group
Kyrgyz Republic : Moderating Growth and a Challenging Outlook
geographic_facet Europe and Central Asia
Kyrgyz Republic
relation Kyrgyz Republic economic report;no. 6
description Political developments at home and abroad have been prominent this year. Domestically, a new government was formed quickly after one of the coalition parties withdrew the support to Prime Minister Satylbaldiev in March, 2014. The new government, led by Prime Minister Djoomart Otorbayev, represents the same coalition of political parties providing continuity on most policies but also a fresh momentum for reforms in key sectors. The next round of parliamentary elections is scheduled for the autumn 2015. Internationally, the Kyrgyz Republic has made firm commitments towards accession to the Customs Union of Belarus, Kazakhstan and Russia while tensions have appeared in relations with some neighbors. Growth has slowed down significantly and we have revised our projection for real GDP growth to 3 percent for 2014 as a whole from the 4 percent we projected in April. Despite robust government investment and gold exports, economic activity has moderated as the slowdown in Russia, the winding down of operations at the Manas Transit Center and increased tensions in trade relations with neighbors are affecting remittances and non-gold exports. Economic activity has been further affected by the poor agriculture harvest while difficulties expected in ensuring stable energy supply in the winter may add a further drag on activity in the rest of the year. Fast growth rates in credit to the private sector and in construction are leveling off as businesses report a more difficult operating environment.
format Economic & Sector Work :: Economic Updates and Modeling
author World Bank Group
author_facet World Bank Group
author_sort World Bank Group
title Kyrgyz Republic : Moderating Growth and a Challenging Outlook
title_short Kyrgyz Republic : Moderating Growth and a Challenging Outlook
title_full Kyrgyz Republic : Moderating Growth and a Challenging Outlook
title_fullStr Kyrgyz Republic : Moderating Growth and a Challenging Outlook
title_full_unstemmed Kyrgyz Republic : Moderating Growth and a Challenging Outlook
title_sort kyrgyz republic : moderating growth and a challenging outlook
publisher Washington, DC
publishDate 2014
url http://documents.worldbank.org/curated/en/2014/01/20317273/kyrgyz-republic-moderating-growth-challenging-outlook
http://hdl.handle.net/10986/20673
_version_ 1764445850129399808
spelling okr-10986-206732021-04-23T14:03:56Z Kyrgyz Republic : Moderating Growth and a Challenging Outlook World Bank Group ACCOUNTING ADVERSE IMPACT AGRICULTURE ARREARS BALANCE OF PAYMENTS BANKING SECTOR BARLEY BASIS POINTS BROAD MONEY BUDGET DEFICIT BUFFERS BUSINESS ENVIRONMENT CAPACITY CONSTRAINTS CAPITAL ADEQUACY CASH HOLDINGS CENTRAL BANK COMMERCIAL BANKS COMMODITY COMMODITY EXPORTS COMMODITY PRICES COMPETITIVENESS COMPLIANCE COSTS CONNECTIVITY CONSOLIDATION CONSUMERS CONSUMPTION GROWTH CORE INFLATION CREATION OF JOBS CREDIT EXPANSION CREDIT FACILITY CREDIT GROWTH CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CUSTOMS DUTIES CUSTOMS UNION DEBT DEBT FINANCING DEMAND FOR CREDIT DEPOSIT DEPOSITS DEPRECIATION DEVALUATION DEVELOPMENT BANK DEVELOPMENT PROJECTS DEVELOPMENT STRATEGY DISBURSEMENTS DISCOUNT RATE DISPOSABLE INCOME DOMESTIC DEMAND DOMESTIC PRICES ECONOMIC ACTIVITY ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC SLOWDOWN ECONOMIC TRANSACTIONS ELASTICITY EQUIPMENT EXCHANGE RATE EXCHANGE RATE POLICIES EXPENDITURE EXPENDITURES EXPORT VOLUME EXPORTERS EXPOSURE EXTERNAL DEBT EXTERNAL DEFICIT EXTERNAL DEMAND EXTERNAL SHOCKS EXTREME POVERTY FINANCIAL FLOWS FINANCIAL INFLOWS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL SECTOR FINANCIAL SECTOR INDICATORS FINANCIAL SERVICES FISCAL BALANCE FISCAL DEFICIT FISCAL POLICY FLOATING EXCHANGE RATE FLOATING EXCHANGE RATE REGIME FOOD PRICE FOOD PRICES FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INFLOWS FOREIGN LOANS FOREIGN TRADE FRAUD GDP GDP PER CAPITA GEOPOLITICAL TENSIONS GOLD GOLD PRICES GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT INVESTMENT GOVERNMENT POLICY GOVERNMENT SPENDING GROWTH RATE GROWTH RATES HUMAN CAPITAL HUMAN DEVELOPMENT IMBALANCE IMPORT IMPORTS INCOME TAX INFLATION INFLATIONARY PRESSURES INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL PRICES INTERNATIONAL RESERVES INVESTMENT LEVELS INVESTMENT PROJECTS ISSUANCE JOB CREATION JUDICIAL REFORM JURISDICTIONS LABOR FORCE LABOR MARKET LABOR MARKETS LAW ENFORCEMENT LIQUIDITY LOAN LOSS OF REVENUES M2 MACROECONOMIC ENVIRONMENT MACROECONOMIC POLICIES MACROECONOMIC STABILITY MARKET ACCESS MARKET DEVELOPMENT MARKET EFFICIENCY MARKET SHARE MARKET SIZE METALS MONETARY AGGREGATES MONETARY CONDITIONS MONETARY POLICY MONEY SUPPLY NATIONAL BANK NATURAL RESOURCE NET CAPITAL NOMINAL EXCHANGE RATE NON-PERFORMING LOANS OIL OIL PRICES OUTPUT PENSION PENSION REFORMS PENSIONS POPULATION GROWTH PORTFOLIO POVERTY REDUCTION PREFERENTIAL ACCESS PRICE CHANGES PRICE INCREASES PRICE STABILITY PRIVATE SECTOR DEVELOPMENT PRODUCERS PRODUCTION COSTS PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING PURCHASING POWER RAPID CREDIT EXPANSION RAPID EXPANSION RAPID GROWTH RE-EXPORTS REAL APPRECIATION REAL EFFECTIVE EXCHANGE RATE REAL EXCHANGE RATE REAL EXPORT REAL GDP REAL IMPORT REAL WAGES REGISTRY SYSTEMS REGULATORY REFORM REMITTANCES REMUNERATION RESERVE RESERVE ACCUMULATION RESERVE MONEY RESERVES RESOURCE MANAGEMENT RETURN RETURN ON ASSETS SECTOR REFORM SECTOR REFORMS SETTLEMENT SHORTFALL SLOWDOWN SOCIAL FUND STRONG DEMAND STRUCTURAL REFORMS SUPPLY DISRUPTIONS SURPLUS TARIFF POLICIES TARIFFS ON IMPORTS TAX TAX COLLECTION TAX POLICY TAX RATES TAX REVENUES TAXATION TELECOMMUNICATIONS TERMS OF TRADE TOTAL EXPORTS TRACK RECORD TRADE BALANCE TRADE DEFICIT TRADE FACILITATION TRADE RELATIONS TRADING TRADING PARTNERS TRANSBOUNDARY RIVER BASINS TRANSPARENCY TREASURY TREASURY BILL TREASURY BILL RATE TREATY UNCERTAINTY UNEMPLOYMENT UNEMPLOYMENT RATE VOLATILITY WAGE GROWTH WEIGHTS WHOLESALE MARKETS WITHDRAWAL Political developments at home and abroad have been prominent this year. Domestically, a new government was formed quickly after one of the coalition parties withdrew the support to Prime Minister Satylbaldiev in March, 2014. The new government, led by Prime Minister Djoomart Otorbayev, represents the same coalition of political parties providing continuity on most policies but also a fresh momentum for reforms in key sectors. The next round of parliamentary elections is scheduled for the autumn 2015. Internationally, the Kyrgyz Republic has made firm commitments towards accession to the Customs Union of Belarus, Kazakhstan and Russia while tensions have appeared in relations with some neighbors. Growth has slowed down significantly and we have revised our projection for real GDP growth to 3 percent for 2014 as a whole from the 4 percent we projected in April. Despite robust government investment and gold exports, economic activity has moderated as the slowdown in Russia, the winding down of operations at the Manas Transit Center and increased tensions in trade relations with neighbors are affecting remittances and non-gold exports. Economic activity has been further affected by the poor agriculture harvest while difficulties expected in ensuring stable energy supply in the winter may add a further drag on activity in the rest of the year. Fast growth rates in credit to the private sector and in construction are leveling off as businesses report a more difficult operating environment. 2014-12-08T18:18:56Z 2014-12-08T18:18:56Z 2014-10 http://documents.worldbank.org/curated/en/2014/01/20317273/kyrgyz-republic-moderating-growth-challenging-outlook http://hdl.handle.net/10986/20673 English en_US Kyrgyz Republic economic report;no. 6 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Economic Updates and Modeling Europe and Central Asia Kyrgyz Republic