Issue 711 - 25.09.2020
25.09.2020

Presidents of Kyrgyzstan and Turkey discuss joint plans for future

A telephone conversation took place today between the Presidents of Kyrgyzstan, Sooronbai Jeenbekov, and Turkey, Recep Tayyip Erdogan. Press service of the head of the Kyrgyz Republic reported.

The sides discussed topical issues of bilateral and multilateral cooperation and implementation of the previously reached agreements.

The parties outlined joint plans for the coming period to build up interaction between the two countries.

The Heads of State also discussed issues of interaction on further joint measures to prevent the spread of coronavirus infection.

By 24.kg     

Kyrgyzstan General

25.09.2020

Level of registered unemployment in Kyrgyzstan amounts to 3.1% of the economically active population

In Kyrgyzstan, the level of registered unemployment amounted to 3.1% of the economically active population. This was stated in the materials of the National Statistics Committee.

In total, as of September 1, the number of unemployed people registered with the state employment service in search of work amounted to 100 thousand...

In Kyrgyzstan, the level of registered unemployment amounted to 3.1% of the economically active population. This was stated in the materials of the National Statistics Committee.

In total, as of September 1, the number of unemployed people registered with the state employment service in search of work amounted to 100 thousand...

25.09.2020

Remittances to Kyrgyzstan decrease by 9.3%

In January-July 2020, gross inflow of remittances amounted to USD 1 billion 225.3 million, decreased by 9.3% compared to last year, Deputy Minister of Economy of Kyrgyzstan Avtandil Alybayev said at a press conference at Kabar News Agency.

According to him, the bulk of remittances come from Russia - about 97%,...

In January-July 2020, gross inflow of remittances amounted to USD 1 billion 225.3 million, decreased by 9.3% compared to last year, Deputy Minister of Economy of Kyrgyzstan Avtandil Alybayev said at a press conference at Kabar News Agency.

According to him, the bulk of remittances come from Russia - about 97%,...

25.09.2020

Kyrgyzstan counts 27.6% more voters in 2020 elections than in 2015

In the 2020 parliamentary elections, the number of voters increased by 27.6% compared to 2015 elections, chairwoman of the Central Election Commission Nurzhan Shaildabekova told reporters at Kabar News Agency.

She said that a total of 3 million 523 thousand 532 voters were registered.

“Compared to 2015, the number of voters increased...

In the 2020 parliamentary elections, the number of voters increased by 27.6% compared to 2015 elections, chairwoman of the Central Election Commission Nurzhan Shaildabekova told reporters at Kabar News Agency.

She said that a total of 3 million 523 thousand 532 voters were registered.

“Compared to 2015, the number of voters increased...

25.09.2020

Kyrgyzstan’s number of recoveries from COVID-19 tops 44,000

As of Thursday, 101 Kyrgyzstanis have cured of novel coronavirus.

According to the report of the Republican Headquarters for Combating COVID-19, a total of 42,005 patients have recovered in Kyrgyzstan since the beginning of the pandemic.

Kyrgyzstan reported Thursday 127 cases of COVID-19, raising the total number of infections to 45,757.

No fatality...

As of Thursday, 101 Kyrgyzstanis have cured of novel coronavirus.

According to the report of the Republican Headquarters for Combating COVID-19, a total of 42,005 patients have recovered in Kyrgyzstan since the beginning of the pandemic.

Kyrgyzstan reported Thursday 127 cases of COVID-19, raising the total number of infections to 45,757.

No fatality...

Finance and Investment

25.09.2020

GDP of Kyrgyzstan shows negative growth in 2020, 5% growth is expected in 2021

In 2020, GDP will show negative growth. Specialist of the Ministry of Economy A. Abdekirov told about this during public hearings of the draft national budget for 2021 and forecast for 2022-2023.

In 2020, negative GDP growth is expected at the level of 5.3%, and at the level of 4.9%, taking...

In 2020, GDP will show negative growth. Specialist of the Ministry of Economy A. Abdekirov told about this during public hearings of the draft national budget for 2021 and forecast for 2022-2023.

In 2020, negative GDP growth is expected at the level of 5.3%, and at the level of 4.9%, taking...

25.09.2020

State Property Management Fund of Kyrgyzstan plans to earn 6.1 billion som in 2021-2023

In 2021-2023, the SPF plans to receive 6.1 billion som from the state property management. State Secretary of the State Property Management Fund Ilyaz Tashbaev spoke about this during public hearings of the draft national budget for 2021 and the forecast for 2022-2023.

In 2021, it is planned to receive 1...

In 2021-2023, the SPF plans to receive 6.1 billion som from the state property management. State Secretary of the State Property Management Fund Ilyaz Tashbaev spoke about this during public hearings of the draft national budget for 2021 and the forecast for 2022-2023.

In 2021, it is planned to receive 1...

25.09.2020

About 60% of enterprises in the financial sector of Kyrgyzstan make a profit by the end of H1 2020

At the end of the first half of 2020, about 60% of enterprises in the financial sector made a profit, and 19.3% suffered losses. This was stated in the materials of the National Statistical Committee.

During this period, the balanced financial result was determined in the amount of 6 billion 103.2...

At the end of the first half of 2020, about 60% of enterprises in the financial sector made a profit, and 19.3% suffered losses. This was stated in the materials of the National Statistical Committee.

During this period, the balanced financial result was determined in the amount of 6 billion 103.2...

25.09.2020

Budget deficit of Kyrgyzstan in 2021 is projected at 7 billion som

In 2021, nominal GDP will amount to KGS635 billion. Almaz Kochkorov, Head of the State Revenue Forecasting Department of the Ministry of Finance, spoke about this during public hearings of the draft national budget for 2021 and the forecast for 2022-2023.

In 2022, nominal GDP will increase to 692.3 billion som,...

In 2021, nominal GDP will amount to KGS635 billion. Almaz Kochkorov, Head of the State Revenue Forecasting Department of the Ministry of Finance, spoke about this during public hearings of the draft national budget for 2021 and the forecast for 2022-2023.

In 2022, nominal GDP will increase to 692.3 billion som,...

25.09.2020

Shortage of customs payments in Kyrgyzstan since the beginning of the year amounts to 9 billion som

The actual receipt of customs payments in January-August 2020 amounted to 15 billion 798.4 million som. Deputy Chairman of the State Customs Service Elnura Mambetzhunusheva spoke about this during public hearings of the draft national budget for 2021 and the forecast for 2022-2023.

The implementation of the forecast indicators amounted to...

The actual receipt of customs payments in January-August 2020 amounted to 15 billion 798.4 million som. Deputy Chairman of the State Customs Service Elnura Mambetzhunusheva spoke about this during public hearings of the draft national budget for 2021 and the forecast for 2022-2023.

The implementation of the forecast indicators amounted to...

25.09.2020

Tax Service of Kyrgyzstan lacks 3.2 billion som in January-August

For 2020, the revenues of the state budget from taxes and payments collected by the Tax Service were approved in the amount of 75 billion 828.6 million som. The Deputy Chairman of the State Tax Service Zamir Mamytov spoke about this during public hearings of the draft national budget for...

For 2020, the revenues of the state budget from taxes and payments collected by the Tax Service were approved in the amount of 75 billion 828.6 million som. The Deputy Chairman of the State Tax Service Zamir Mamytov spoke about this during public hearings of the draft national budget for...

25.09.2020

During the week, 21 transactions with securities for 32.4 million som carried out on the Kyrgyz Stock Exchange

During the week, 21 transactions were made in the secondary market for the amount of 32.4 million som, 64% less. This was stated in the materials of the Kyrgyz Stock Exchange.

66% of the trading volume of the secondary market was occupied by transactions with shares of Kyrgyzneftegaz, at 21.4 million...

During the week, 21 transactions were made in the secondary market for the amount of 32.4 million som, 64% less. This was stated in the materials of the Kyrgyz Stock Exchange.

66% of the trading volume of the secondary market was occupied by transactions with shares of Kyrgyzneftegaz, at 21.4 million...

25.09.2020

Return of the bug thought to benefit US dollar, Swiss franc, yen exchange rates

The U.S. dollar reached a two-month high on Thursday as concern grew over the resilience of an economic recovery in the United States and Europe amid a second wave of coronavirus infections.

The dollar benefited from another spike in coronavirus cases in Europe, which boosted its safe-haven appeal, while Federal Reserve...

The U.S. dollar reached a two-month high on Thursday as concern grew over the resilience of an economic recovery in the United States and Europe amid a second wave of coronavirus infections.

The dollar benefited from another spike in coronavirus cases in Europe, which boosted its safe-haven appeal, while Federal Reserve...

25.09.2020

Stock markets feel the heat as bugbusters return to the starting blocks

Global shares fell on Thursday on investor concern about another economic hit from the coronavirus pandemic, ahead of key U.S. jobless data and comments from the head of the Federal Reserve.

After a summer lull in much of Europe, the infection rate has begun to rise sharply, with a number of...

Global shares fell on Thursday on investor concern about another economic hit from the coronavirus pandemic, ahead of key U.S. jobless data and comments from the head of the Federal Reserve.

After a summer lull in much of Europe, the infection rate has begun to rise sharply, with a number of...

Metals and Minerals

25.09.2020

World may be running out of gold with mine production in decline

While uncertainty created by the global pandemic has sparked a surge in gold buying, analysts are raising concerns over how much of the precious metal is left to mine.

According to the World Gold Council, gold mine production totaled 3,531 tonnes in 2019, which is one percent lower than in the...

While uncertainty created by the global pandemic has sparked a surge in gold buying, analysts are raising concerns over how much of the precious metal is left to mine.

According to the World Gold Council, gold mine production totaled 3,531 tonnes in 2019, which is one percent lower than in the...

25.09.2020

Bullion, silver hit by momentary dollar frenzy

Gold fell on Thursday to its lowest level in more than two months, crippled by a robust dollar, while investors fretted over uncertainties surrounding further stimulus measures to support a sluggish economy in the United States.

Spot gold fell 0.3% to $1,857.36 per ounce at 0747 GMT. Earlier in the session,...

Gold fell on Thursday to its lowest level in more than two months, crippled by a robust dollar, while investors fretted over uncertainties surrounding further stimulus measures to support a sluggish economy in the United States.

Spot gold fell 0.3% to $1,857.36 per ounce at 0747 GMT. Earlier in the session,...

25.09.2020

Non-ferrous base metals down: blame it on the bug

Copper prices fell on Thursday as the U.S. dollar strengthened and as rising global cases of the novel coronavirus dashed hopes of a quick economic recovery.

The dollar held onto gains, making the greenback-priced metals more expensive for holders of other currencies, as signs of an economic slowdown in Europe and...

Copper prices fell on Thursday as the U.S. dollar strengthened and as rising global cases of the novel coronavirus dashed hopes of a quick economic recovery.

The dollar held onto gains, making the greenback-priced metals more expensive for holders of other currencies, as signs of an economic slowdown in Europe and...

Trade and Consumer Goods

25.09.2020

Cost of labelling goods in the EAEU is approximately at the same level

The cost of labelling a unit of goods in the Eurasian Economic Union is approximately at the same level, the deputy head of the State Tax Service Kubanybek Shatemirov said on the air of Birinchi radio.

There are certain necessary mandatory costs on the part of the business to switch to...

The cost of labelling a unit of goods in the Eurasian Economic Union is approximately at the same level, the deputy head of the State Tax Service Kubanybek Shatemirov said on the air of Birinchi radio.

There are certain necessary mandatory costs on the part of the business to switch to...

Agriculture

25.09.2020

US grain futures kept down by lack of market position prospect

Chicago grain futures eased to one-week lows on Thursday as strength in the dollar and advancing U.S. corn and soybean harvests pushed prices away from recent highs fuelled by Chinese demand.

“A stronger U.S. dollar is not helping, but we also suspect the market is fatigued after such a strong rally...

Chicago grain futures eased to one-week lows on Thursday as strength in the dollar and advancing U.S. corn and soybean harvests pushed prices away from recent highs fuelled by Chinese demand.

“A stronger U.S. dollar is not helping, but we also suspect the market is fatigued after such a strong rally...

Manufacturing industry

25.09.2020

Situation in the construction sector of Kyrgyzstan worsens due to decrease in remittances and pandemic

The decline in the construction sector was influenced by the situation with the pandemic. Deputy Minister of Economy of Kyrgyzstan Avtandil Alybaev said this on September 24, 2020 at a press conference in Bishkek.

The construction sector accounts for 8% in the structure of the economy.

According to various estimates, about 30%...

The decline in the construction sector was influenced by the situation with the pandemic. Deputy Minister of Economy of Kyrgyzstan Avtandil Alybaev said this on September 24, 2020 at a press conference in Bishkek.

The construction sector accounts for 8% in the structure of the economy.

According to various estimates, about 30%...

Oil and Gas Sector

25.09.2020

Brent holds position, defying bugged bears

Oil prices steadied on Thursday, as a fall in U.S. inventories last week was tempered by a stronger dollar and a renewed wave of COVID-19 cases in Europe that led several countries to reimpose travel restrictions.

Brent crude futures were up 10 cents, or 0.2%, to $41.87 a barrel by 1100...

Oil prices steadied on Thursday, as a fall in U.S. inventories last week was tempered by a stronger dollar and a renewed wave of COVID-19 cases in Europe that led several countries to reimpose travel restrictions.

Brent crude futures were up 10 cents, or 0.2%, to $41.87 a barrel by 1100...

Communications and Transportation

25.09.2020

State Communications Committee spends 264.2 million som from the budget since the beginning of the year

For 2020, 463.6 million som were allocated from the budget for the maintenance of the State Committee for Information Technologies and Communications, of which 264.2 million som were actually spent for the period from January 1 to September 1, 2020. Such data are provided by the Open Budget portal.

Most of...

For 2020, 463.6 million som were allocated from the budget for the maintenance of the State Committee for Information Technologies and Communications, of which 264.2 million som were actually spent for the period from January 1 to September 1, 2020. Such data are provided by the Open Budget portal.

Most of...

25.09.2020

Construction of all 6 projected new underground crossings on Bishkek-Kara-Balta road completed

The laying of the last underground passage in the village of Belovodskoye has been completed under the project to improve the CAREC corridor 3 of the Bishkek-Osh highway, Phase 4, on the Bishkek-Kara-Balta section. This was reported by the press service of the Ministry of Transport.

Construction work has been completed...

The laying of the last underground passage in the village of Belovodskoye has been completed under the project to improve the CAREC corridor 3 of the Bishkek-Osh highway, Phase 4, on the Bishkek-Kara-Balta section. This was reported by the press service of the Ministry of Transport.

Construction work has been completed...

25.09.2020

Eurasian Economic Commission approves the conduct of a comprehensive technical examination of the integrated information system of the EAEU

The Council of the Eurasian Economic Commission adopted an order to conduct a comprehensive technical examination of the integrated information system to develop recommendations for the modernisation and development of the system, analyse the possibility of using existing tools and services in the implementation of projects within the digital agenda...

The Council of the Eurasian Economic Commission adopted an order to conduct a comprehensive technical examination of the integrated information system to develop recommendations for the modernisation and development of the system, analyse the possibility of using existing tools and services in the implementation of projects within the digital agenda...

Real Estate and Construction

25.09.2020

Construction and service sectors of Kyrgyzstan seen in decline

The construction and service sectors are in decline. Deputy Minister of Economy of Kyrgyzstan Avtandil Alybaev said this on September 24, 2020 at a press conference in Bishkek.

The decline over 8 months of 2020 in the construction sector amounted to 7.8%, in the service sector to 9.8%.

The deputy head reminded...

The construction and service sectors are in decline. Deputy Minister of Economy of Kyrgyzstan Avtandil Alybaev said this on September 24, 2020 at a press conference in Bishkek.

The decline over 8 months of 2020 in the construction sector amounted to 7.8%, in the service sector to 9.8%.

The deputy head reminded...

Prices and Statistics

25.09.2020

Commodities

Date: September 25, 2020; Source: Bloomberg.com

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Date: September 25, 2020; Source: Bloomberg.com

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25.09.2020

Exchange Rates

Date: September 25, 2020; Source: the National Bank of Kyrgyzstan
1 US DOLLAR USD / KGS 79,3499
1 EURO EUR / KGS 92,4942
1 RUSSIAN ROUBLE RUB / KGS 1,0281
1 KAZAKHSTAN TENGE KZT / KGS 0,1863

Date: September 25, 2020; Source: the National Bank of Kyrgyzstan

1 US DOLLAR

USD / KGS

79,3499

1 EURO

EUR / KGS

92,4942

1 RUSSIAN ROUBLE

RUB / KGS

1,0281

1 KAZAKHSTAN TENGE

KZT / KGS

0,1863