Issue 884 - 11.06.2021
11.06.2021

Kyrgyz, Turkish heads of state confer

Turkish President Recep Tayyip Erdogan said at a joint press conference following talks with his Kyrgyz counterpart Sadyr Zhaparov in Ankara that the leaders discussed the fight against terrorist organizations during the meeting, Haberler.com reported.

He said that the terrorist organization of Fetullah Gulen (FETÖ) poses a threat to the security of both Turkey and Kyrgyzstan. “We agreed that FETÖ poses a threat to the national security of both countries,” Erdogan said, commenting on the results of the talks.

The Turkish leader stressed the importance of cooperation between Ankara and Bishkek in the fight against FETÖ.

“Recent events have once again shown the bloody, dark and filthy face of the FETÖ terrorists. Together, side by side, we will respond to all their threats. I once again expressed Turkey's support to the president, people and state of Kyrgyzstan. We will continue to be close to Kyrgyzstan at every stage of its path to political stability,” Erdogan said.

During the meeting, the leaders discussed the fight against terrorist organizations, including FETÖ, as well as regional cooperation, he said. “We hope to further strengthen our fraternal ties with Kyrgyzstan. We confirmed this during the talks. We discussed all issues, from the fight against terrorist organizations, primarily with FETÖ, to issues of regional cooperation,” the Turkish leader said.

Reported by Kabar (Kyrgyzstan).

Kyrgyzstan General

11.06.2021

Kyrgyzstan approves algorithms for entry into its territory

Kyrgyzstan has approved Algorithms of Action to prevent the entry and spread of coronavirus infection in relation to the citizens of the Kyrgyz Republic, foreign nationals and stateless persons crossing the state border of the republic, as well as persons traveling on domestic airlines.

The Department of Tourism under the Ministry...

Kyrgyzstan has approved Algorithms of Action to prevent the entry and spread of coronavirus infection in relation to the citizens of the Kyrgyz Republic, foreign nationals and stateless persons crossing the state border of the republic, as well as persons traveling on domestic airlines.

The Department of Tourism under the Ministry...

Finance and Investment

11.06.2021

Spending on civil service, economic issues and health care in Kyrgyzstan make largest contribution to growth in 1Q

At the end of the first quarter of 2021, the state budget deficit amounted to KGS3.2 billion, or 2.7% of GDP. This is stated in the report on monetary policy for the first quarter of 2021.

In the first quarter of 2020, the budget deficit amounted to KGS5.6 billion, or 4.8%...

At the end of the first quarter of 2021, the state budget deficit amounted to KGS3.2 billion, or 2.7% of GDP. This is stated in the report on monetary policy for the first quarter of 2021.

In the first quarter of 2020, the budget deficit amounted to KGS5.6 billion, or 4.8%...

11.06.2021

Kyrgyzstan's GDP amounts to KGS 215 bln, declining by 1.6%

According to preliminary data, the gross domestic product in Kyrgyzstan in January-May 2021 amounted to KGS 215 billion, Chinara Turdubayeva, the head of the Summary Works and Statistical Information Dissemination Department of the republic’s National Statistics Committee said during a press conference Friday.

She added that Kyrgyzstan’s GDP decreased by 1.6%...

According to preliminary data, the gross domestic product in Kyrgyzstan in January-May 2021 amounted to KGS 215 billion, Chinara Turdubayeva, the head of the Summary Works and Statistical Information Dissemination Department of the republic’s National Statistics Committee said during a press conference Friday.

She added that Kyrgyzstan’s GDP decreased by 1.6%...

11.06.2021

Inflation rate in Kyrgyzstan for 5 months makes 4.8%

In January-May 2021 (compared to December 2020) the increase in consumer prices and tariffs (inflation) in the country as a whole amounted to 4.8%, head of the Summary Works and Statistical Information Dissemination Department of Kyrgyzstan’s National Statistics Committee Chinara Turdubayeva told during a press conference Friday.

The prices for food products...

In January-May 2021 (compared to December 2020) the increase in consumer prices and tariffs (inflation) in the country as a whole amounted to 4.8%, head of the Summary Works and Statistical Information Dissemination Department of Kyrgyzstan’s National Statistics Committee Chinara Turdubayeva told during a press conference Friday.

The prices for food products...

11.06.2021

Kyrgyz government implements stimulating fiscal policy in 1Q

The level of development of investments in fixed assets in January-March 2021 compared to the same period in 2020 decreased by 23.4%. This is stated in the report on monetary policy for the first quarter of 2021.

A decrease in investment in fixed assets was noted in such industries as the...

The level of development of investments in fixed assets in January-March 2021 compared to the same period in 2020 decreased by 23.4%. This is stated in the report on monetary policy for the first quarter of 2021.

A decrease in investment in fixed assets was noted in such industries as the...

11.06.2021

Greenback in stalemate between bulls and bears as US inflation concerns weigh

The dollar index was downslightly on Thursday in a choppy session in which it alternated between losses and gains as investors digested elevated U.S. inflation data and commentary from the European Central Bank.

After adopting a wait-and-see attitude all week, sucking volatility from the market and leaving major currencies mostly range-bound...

The dollar index was downslightly on Thursday in a choppy session in which it alternated between losses and gains as investors digested elevated U.S. inflation data and commentary from the European Central Bank.

After adopting a wait-and-see attitude all week, sucking volatility from the market and leaving major currencies mostly range-bound...

11.06.2021

Europe’s stock markets under pressure as US markets hold firm

European shares were still treading water at midday on Thursday as investors awaited the outcome of the European Central Bank's policy meeting and US inflation numbers later in the day.

The pan-European Stoxx 600 was flat at 454.38, while Germany's DAX was up 0.2% at 15,605.27 and France's CAC 40 was down 0.1%...

European shares were still treading water at midday on Thursday as investors awaited the outcome of the European Central Bank's policy meeting and US inflation numbers later in the day.

The pan-European Stoxx 600 was flat at 454.38, while Germany's DAX was up 0.2% at 15,605.27 and France's CAC 40 was down 0.1%...

Metals and Minerals

11.06.2021

Jerui brings first billion to budget of Kyrgyzstan

After the start of production, Jerui continues to increase monthly payments to the budget of Kyrgyzstan in May, another 219.7 million som were received from the developer company Alliance Altyn for 3 main types of payments. Taking into account 140 million som paid in April, the first month after the...

After the start of production, Jerui continues to increase monthly payments to the budget of Kyrgyzstan in May, another 219.7 million som were received from the developer company Alliance Altyn for 3 main types of payments. Taking into account 140 million som paid in April, the first month after the...

11.06.2021

Situation with Kumtor mine in Kyrgyzstan may affect Kazakh investors

The Kyrgyz government and Centerra Gold, a third of which is owned by the Kyrgyz government, are on the verge of a major arbitration over a battle for operational control of the Kumtor gold mine. The country's authorities have introduced external management at the enterprise and require the company to...

The Kyrgyz government and Centerra Gold, a third of which is owned by the Kyrgyz government, are on the verge of a major arbitration over a battle for operational control of the Kumtor gold mine. The country's authorities have introduced external management at the enterprise and require the company to...

11.06.2021

Bullion, other precious metals lose shine as greenback halts decline

Gold prices fell on Thursday, pressured by a firm dollar as investors awaited U.S. inflation data to gauge the Federal Reserve's monetary policy stance as well as a European Central Bank meeting.

Spot gold fell 0.4% to $1,880.17 per ounce by 0949 GMT, having earlier hit its lowest level since June 4...

Gold prices fell on Thursday, pressured by a firm dollar as investors awaited U.S. inflation data to gauge the Federal Reserve's monetary policy stance as well as a European Central Bank meeting.

Spot gold fell 0.4% to $1,880.17 per ounce by 0949 GMT, having earlier hit its lowest level since June 4...

11.06.2021

Non-ferrous metals mixed as China demand outlook remains unclear

Copper fell on Thursday, hit by fresh concerns around price controls after surging producer inflation strengthened China's resolve to keep commodity prices in check.

Three-month copper on the London Metal Exchange fell 0.4% to $9,938.50 a tonne by 0510 GMT, while the most-traded July copper contract on the Shanghai Futures Exchange...

Copper fell on Thursday, hit by fresh concerns around price controls after surging producer inflation strengthened China's resolve to keep commodity prices in check.

Three-month copper on the London Metal Exchange fell 0.4% to $9,938.50 a tonne by 0510 GMT, while the most-traded July copper contract on the Shanghai Futures Exchange...

Energy Industry

11.06.2021

Kyrgyzstan faces collapse if energy system stays unstable

The head of the National Energy Holding, Bakyt Sydykov, said at a round table that the energy sector of Kyrgyzstan is in critical condition.

Sydykov explained that this situation happened for a number of reasons:

·       low water volume in the Toktogul reservoir;

·       a large proportion of equipment is in poor condition;

·       high growth in...

The head of the National Energy Holding, Bakyt Sydykov, said at a round table that the energy sector of Kyrgyzstan is in critical condition.

Sydykov explained that this situation happened for a number of reasons:

·       low water volume in the Toktogul reservoir;

·       a large proportion of equipment is in poor condition;

·       high growth in...

Agriculture

11.06.2021

Association for Development of Agro-Industrial Complex names reasons for shortage of irrigation water in Chui region

The main reasons for the shortage of irrigation water in Chui region are the lack of advance preventive measures on the part of water regulating organisations for the correct planning of water resources use, high staff turnover in WUAs, and losses in water supply through irrigation systems due to untimely...

The main reasons for the shortage of irrigation water in Chui region are the lack of advance preventive measures on the part of water regulating organisations for the correct planning of water resources use, high staff turnover in WUAs, and losses in water supply through irrigation systems due to untimely...

11.06.2021

US wheat contracts further down as maize veers up

Chicago wheat futures lost ground for a second session on Thursday, with forecasts of rains in drought-hit U.S. and Canadian producing areas weighing on the market and traders awaiting a key U.S. government report later in the day.

Corn extended Wednesday's strong gains, while soybeans edged higher.

"The weather outlook seems to be evolving in...

Chicago wheat futures lost ground for a second session on Thursday, with forecasts of rains in drought-hit U.S. and Canadian producing areas weighing on the market and traders awaiting a key U.S. government report later in the day.

Corn extended Wednesday's strong gains, while soybeans edged higher.

"The weather outlook seems to be evolving in...

Oil and Gas Sector

11.06.2021

Brent bullish within $72-$73/b range

Oil prices rose on Thursday after U.S. government data showed new unemployment claims fell to the lowest level since the country's first wave of COVID-19 last year while inflation was higher than expected.

Brent crude oil futures were up 55 cents, or 0.76%, at $72.77 a barrel by 1356...

Oil prices rose on Thursday after U.S. government data showed new unemployment claims fell to the lowest level since the country's first wave of COVID-19 last year while inflation was higher than expected.

Brent crude oil futures were up 55 cents, or 0.76%, at $72.77 a barrel by 1356 GMT, holding near...

11.06.2021

North Sea region’s natural gas prices up on reserve build-up

British wholesale gas prices firmed again on Thursday on continued restocking demand and exports to the continent, which offset rising Norwegian supply.

The within-day contract was up 0.40 pence at 69.00 pence per therm by 0930 GMT.

The day-ahead contract was up 0.50 pence at 68.75 p/therm.

The UK system was almost 18 million cubic...

British wholesale gas prices firmed again on Thursday on continued restocking demand and exports to the continent, which offset rising Norwegian supply.

The within-day contract was up 0.40 pence at 69.00 pence per therm by 0930 GMT.

The day-ahead contract was up 0.50 pence at 68.75 p/therm.

The UK system was almost 18 million cubic...

Communications and Transportation

11.06.2021

Kyrgyzstan registers almost 16 thousand newly imported cars over 5 months

In Kyrgyzstan, almost 16 thousand newly imported cars have been registered in 5 months. Such data are provided by the State Registration Service under the Ministry of Justice of Kyrgyzstan.

As of June 1, State Institution Unaa under the State Registration Service, within 5 months of 2021, 170,565 vehicle registrations were...

In Kyrgyzstan, almost 16 thousand newly imported cars have been registered in 5 months. Such data are provided by the State Registration Service under the Ministry of Justice of Kyrgyzstan.

As of June 1, State Institution Unaa under the State Registration Service, within 5 months of 2021, 170,565 vehicle registrations were...

Regional News

11.06.2021

Russian economy, industry seen recovering

Russia’s economy is actively recovering after the coronavirus pandemic-related crisis, Prime Minister Mikhail Mishustin said on Thursday.

"The economy and industry are actively recovering now," he said, adding that "amid this background, the pharmaceutical and medical industries demonstrated growth of over 23% last year and over 40% in the first quarter of...

Russia’s economy is actively recovering after the coronavirus pandemic-related crisis, Prime Minister Mikhail Mishustin said on Thursday.

"The economy and industry are actively recovering now," he said, adding that "amid this background, the pharmaceutical and medical industries demonstrated growth of over 23% last year and over 40% in the first quarter of...

11.06.2021

Russian Industrial Development Fund to recoup 145bn rouble in 2023

One of the main instruments of financing industrial projects, the Industrial Development Fund, will start financing projects using its own funds in 2022, whereas in 2023 it is expected to recoup the budget funds worth 145 bln rouble ($2 bln) invested in it earlier, Russian Industry and Trade Minister Denis...

One of the main instruments of financing industrial projects, the Industrial Development Fund, will start financing projects using its own funds in 2022, whereas in 2023 it is expected to recoup the budget funds worth 145 bln rouble ($2 bln) invested in it earlier, Russian Industry and Trade Minister Denis...

11.06.2021

Bears clutch Russian equity as rouble stays firm

The Russian rouble was steady against the dollar on Thursday, after hitting its strongest level since last July a day earlier, supported by high oil prices and expectations that the central bank will raise rates this week.

At 0741 GMT, the rouble was 0.1% stronger against the dollar at 72.22, having hit 71.9825 on Wednesday,...

The Russian rouble was steady against the dollar on Thursday, after hitting its strongest level since last July a day earlier, supported by high oil prices and expectations that the central bank will raise rates this week.

At 0741 GMT, the rouble was 0.1% stronger against the dollar at 72.22, having hit 71.9825 on Wednesday,...

11.06.2021

China stocks end higher as inflation fears ease

China stocks ended higher on Thursday, as regulators played down inflation worries and as Sino-U.S. talks helped underpin sentiment.

The blue-chip CSI300 index rose 0.7%, to 5,271.47, while the Shanghai Composite Index gained 0.5%to 3,610.86.

The tech-heavy start-up board ChiNext rose 2.4%, while Shanghai’s tech-focused STAR50 index added 1.6%.

China’s central bank governor...

China stocks ended higher on Thursday, as regulators played down inflation worries and as Sino-U.S. talks helped underpin sentiment.

The blue-chip CSI300 index rose 0.7%, to 5,271.47, while the Shanghai Composite Index gained 0.5%to 3,610.86.

The tech-heavy start-up board ChiNext rose 2.4%, while Shanghai’s tech-focused STAR50 index added 1.6%.

China’s central bank governor...

11.06.2021

China FX deposits swell to record $1.01 trillion in May

China's foreign exchange deposits hit a record high of $1.01 trillion at the end of May, compared with $1 trillion a month earlier, the central bank said on Thursday.

Foreign exchange deposits have been steadily growing since last year, boosted by China's huge trade surplus and continued capital inflows into Chinese...

China's foreign exchange deposits hit a record high of $1.01 trillion at the end of May, compared with $1 trillion a month earlier, the central bank said on Thursday.

Foreign exchange deposits have been steadily growing since last year, boosted by China's huge trade surplus and continued capital inflows into Chinese...

11.06.2021

China central bank chief says inflation under control

China's central bank governor said inflation is "basically under control", and monetary policy would be kept steady, in comments a day after concerns over inflationary pressures were fanned by data showing the fastest rise in factory-gate prices in 12 years.

"We must adhere to policy stability as a priority, and stick...

China's central bank governor said inflation is "basically under control", and monetary policy would be kept steady, in comments a day after concerns over inflationary pressures were fanned by data showing the fastest rise in factory-gate prices in 12 years.

"We must adhere to policy stability as a priority, and stick...

Prices and Statistics

11.06.2021

Commodities

Date: June 11, 2021; Source: Bloomberg.com

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Date: June 11, 2021; Source: Bloomberg.com

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11.06.2021

Exchange Rates

Date: June 11, 2021; Source: the National Bank of Kyrgyzstan
1 US DOLLAR USD / KGS 84,3188
1 EURO EUR / KGS 102,5865
1 RUSSIAN ROUBLE RUB / KGS 1,1679
1 KAZAKHSTAN TENGE KZT / KGS 0,1972

Date: June 11, 2021; Source: the National Bank of Kyrgyzstan

1 US DOLLAR

USD / KGS

84,3188

1 EURO

EUR / KGS

102,5865

1 RUSSIAN ROUBLE

RUB / KGS

1,1679

1 KAZAKHSTAN TENGE

KZT / KGS

0,1972