A second package of measures has been developed to support economic sectors and business entities

In order to provide additional support for business and the gradual economic recovery, the Government of the Kyrgyz Republic has developed a second package of measures to support economic sectors and business entities.

The second package of measures provides for a phased resumption of economic activity and financial support measures are proposed.

Particularly, it contains 19 events that provide for the program of preferential lending to business entities and a number of fiscal measures aimed at revising the obligations of tax contracts and restructuring tax and social security debts. Support is also expected for business activities aimed at exporting and ensuring food security.

“We found sources of financing. Approximately, we are talking about 40 billion KGS. Among them, 4.2 billion from Kumtor account, 14 billion KGS from donor accounts, 4.3 billion KGS – following the results of the restructuring of external debt. Also, about 17.5 billion KGS from other sources, such as the RKDF, the Eurasian Fund for Stabilization and Development”, said Mukhammedkalyi Abylgaziev.

It should be noted that the Government of the Kyrgyz Republic is currently working on the preparation of a medium-term comprehensive program for post-crisis recovery and economic development.