Issue 480 - 16.10.2019
16.10.2019

Kyrgyz Parliament committee returns draft national budget law for revision

The Committee on Agrarian Policy, Water Resources, Ecology and Regional Development of the Parliament considered the draft law On the national budget of Kyrgyzstan for 2020 and the forecast for 2021-2022 in the first reading. The press service of the parliament reported on Monday.

Information on the bill was presented by the First Vice Prime Minister of Kyrgyzstan Kubatbek Boronov and the Deputy Minister of Finance Almazbek Azimov.

It was indicated that the total amount of state budget revenues, taking into account state investment grants for 2020, is projected in the amount of KGS183 billion 708 million, or at the level of 27.5% of GDP. Total revenues of the national budget, taking into account state investment grants in 2020, are provided in the amount of KGS163 billion 710 million. The total expenditures of the national budget for 2020 is set at 173 billion 663 million som, 26.0% of GDP. In the period 2021-2022. National budget expenditures will amount to 173 billion 498 million som and 174 billion 967 million som, respectively. The deficit of the national budget for 2020 will amount to 9 billion 953 million som or 1.5% of GDP.

MP Rada Tumanbaeva noted that payment of 15 thousand som for the red book creates difficulties for residents in rural areas.

“It is necessary to conduct a one-time campaign and reduce the cost of this service,” R. Tumanbaeva emphasised, adding that it is also necessary to timely pay financial resources for the construction of roads and irrigation systems in the regions.

Committee Chairman Nurbek Alimbekov emphasised that the issue of building a phytosanitary laboratory in Kyrgyzstan should be a priority.

Following the discussion, the committee decided to consider the bill again at its next meeting, taking into account the proposals and comments of the deputies.

Reported by KyrTAG (Kyrgyzstan).

Kyrgyzstan General

16.10.2019

National population census to be conducted Kyrgyzstan in March 2020

The National Statistics Committee of Kyrgyzstan is conducting works on organization and conducting of the national census of population and housing facilities, the Committee reported.

The census is held every 10 years in Kyrgyzstan. The upcoming census is scheduled for March 2020.

The results of previous national censuses and housing facilities in...

The National Statistics Committee of Kyrgyzstan is conducting works on organization and conducting of the national census of population and housing facilities, the Committee reported.

The census is held every 10 years in Kyrgyzstan. The upcoming census is scheduled for March 2020.

The results of previous national censuses and housing facilities in...

16.10.2019

Kyrgyzstan sums up outcomes of its Turkic Council chairmanship

Kyrgyzstan is completing its Turkic Council Chairmanship, President Sooronbai Jeenbekov said at the meeting of the Turkic Council Summit in Baku.

“We have made all possible efforts for further development of the Organization during chairmanship, strengthening of a productive cooperation and friendly ties between the states,” he said.

“Since establishment of the...

Kyrgyzstan is completing its Turkic Council Chairmanship, President Sooronbai Jeenbekov said at the meeting of the Turkic Council Summit in Baku.

“We have made all possible efforts for further development of the Organization during chairmanship, strengthening of a productive cooperation and friendly ties between the states,” he said.

“Since establishment of the...

Finance and Investment

16.10.2019

Kyrgyz government plans to reduce mortgage rates to 6-8% per annum by the end of the year

By the end of the year, the Kyrgyz government plans to reduce mortgage rates to 6-8% per annum, the government of Kyrgyzstan reported.

To ensure the availability of a mortgage loan, interest rates have been reduced 3 times since the launch of the Kyrgyz Government's Affordable Housing 2015-2020 program. In 2016,...

By the end of the year, the Kyrgyz government plans to reduce mortgage rates to 6-8% per annum, the government of Kyrgyzstan reported.

To ensure the availability of a mortgage loan, interest rates have been reduced 3 times since the launch of the Kyrgyz Government's Affordable Housing 2015-2020 program. In 2016,...

16.10.2019

Loans worth 4.2 billion som are issued since the start of the affordable housing program in Kyrgyzstan

During the years of the implementation of the Affordable Housing 2015-2020 program of the Government of Kyrgyzstan, budget loans amounting to 4.2 billion som were allocated from the national budget in 2016-2019, the press service of the Government of Kyrgyzstan reported.

At the expense of working capital of the State Mortgage...

During the years of the implementation of the Affordable Housing 2015-2020 program of the Government of Kyrgyzstan, budget loans amounting to 4.2 billion som were allocated from the national budget in 2016-2019, the press service of the Government of Kyrgyzstan reported.

At the expense of working capital of the State Mortgage...

16.10.2019

Businessman Subihi Parkhati detained in Kyrgyzstan

Businessman Subihi Parkhati was detained in Kyrgyzstan in the framework of a criminal case against former president of the country Almazbek Atambayev.

It is known that Subihi Parkhati was handed a notice on suspicion of a crime.

“Previously, the businessman was wanted. The Pervomaisky District Court of Bishkek chose for him a preventive measure in form of a recognizance not to leave city. According to preliminary data, Subihi Parkhati is suspected...

Businessman Subihi Parkhati was detained in Kyrgyzstan in the framework of a criminal case against former president of the country Almazbek Atambayev.

It is known that Subihi Parkhati was handed a notice on suspicion of a crime.

“Previously, the businessman was wanted. The Pervomaisky District Court of Bishkek chose for him a preventive measure in form of a recognizance not to leave city. According to preliminary data, Subihi Parkhati is suspected...

16.10.2019

Revenues of non-bank financial institutions in Kyrgyzstan exceed 3 billion som in H1

Some 578 non-bank financial and credit institutions and 278 their branches were functioning in the country in the first half of 2019, Tazabek reports with reference to the National Statistical Committee.

The number of their clients by July 1 made 560,100 legal entities and individuals and has grown 1.5 times since...

Some 578 non-bank financial and credit institutions and 278 their branches were functioning in the country in the first half of 2019, Tazabek reports with reference to the National Statistical Committee.

The number of their clients by July 1 made 560,100 legal entities and individuals and has grown 1.5 times since...

16.10.2019

Turkey invests in construction, trade, processing sectors of Kyrgyzstan

A historic high inflow of FDIs from Turkey took place in 2015 when Turkey invested $1.5 billion in Kyrgyzstan, said Deputy Economy Minister Sultan Akhmatov. This is linked to the opening of Russian-Kyrgyz Development Fund, he noted.

Turkey invested mostly into construction sector, trade and processing sectors.

MP Bahadyr Sulaimanov asked why...

A historic high inflow of FDIs from Turkey took place in 2015 when Turkey invested $1.5 billion in Kyrgyzstan, said Deputy Economy Minister Sultan Akhmatov. This is linked to the opening of Russian-Kyrgyz Development Fund, he noted.

Turkey invested mostly into construction sector, trade and processing sectors.

MP Bahadyr Sulaimanov asked why...

16.10.2019

Greenback pursues further gains on volatile rival currencies

The dollar gained for a second consecutive day on Tuesday as fading optimism over the latest China-U.S. trade truce prompted traders to buy the greenback after a selloff last week.

The greenback had come under selling pressure recently as the combination of some tepid U.S. data and hopes of a breakthrough...

The dollar gained for a second consecutive day on Tuesday as fading optimism over the latest China-U.S. trade truce prompted traders to buy the greenback after a selloff last week.

The greenback had come under selling pressure recently as the combination of some tepid U.S. data and hopes of a breakthrough...

Metals and Minerals

16.10.2019

With bullion unmoved, palladium prices peak on tight supplies

Gold held steady on Tuesday as optimism surrounding U.S.-China trade talks faded and investors awaited the outcome of crucial discussions that will determine how Britain leaves the European Union, while deficit-hit palladium touched a record high.

Spot gold edged down 0.1% to $1,490.70 per ounce as of 0711 GMT. U.S. gold...

Gold held steady on Tuesday as optimism surrounding U.S.-China trade talks faded and investors awaited the outcome of crucial discussions that will determine how Britain leaves the European Union, while deficit-hit palladium touched a record high.

Spot gold edged down 0.1% to $1,490.70 per ounce as of 0711 GMT. U.S. gold...

16.10.2019

Nickel, zinc, tin, lead drive non-ferrous base metals gains with aluminium on losing end

Nickel prices rebounded on Tuesday after heavy losses a day earlier, while copper was weighed down by worries about weak economic growth.

Traders said it was unclear who was behind the selling during final open outcry trading on Monday on the London Metal Exchange that fuelled a $825 tumble of nickel...

Nickel prices rebounded on Tuesday after heavy losses a day earlier, while copper was weighed down by worries about weak economic growth.

Traders said it was unclear who was behind the selling during final open outcry trading on Monday on the London Metal Exchange that fuelled a $825 tumble of nickel...

Energy Industry

16.10.2019

Severelectro subscribers pay 427.3 million som in September

In September of this year, Severelectro provided electricity to consumers for 416.3 million som. Payments amounted to 427.3 million som, the distribution company reported.

In September, payments from the population were collected at 99.9%, from budget organisations at 111.5%, from industrial facilities at 103.6%, from other consumers at 103.2%, from agricultural...

In September of this year, Severelectro provided electricity to consumers for 416.3 million som. Payments amounted to 427.3 million som, the distribution company reported.

In September, payments from the population were collected at 99.9%, from budget organisations at 111.5%, from industrial facilities at 103.6%, from other consumers at 103.2%, from agricultural...

Trade and Consumer Goods

16.10.2019

Trade turnover between Kyrgyzstan and Turkey reaches $190.8m

The Kyrgyz parliamentary committee for international affairs, defense and security is considering the draft law on ratification of the agreement between Kyrgyzstan and Turkey on mutual promotion and protection of investments signed on April 9, 2018 in Ankara in the first reading.

Draft law is aimed at attraction of investments from...

The Kyrgyz parliamentary committee for international affairs, defense and security is considering the draft law on ratification of the agreement between Kyrgyzstan and Turkey on mutual promotion and protection of investments signed on April 9, 2018 in Ankara in the first reading.

Draft law is aimed at attraction of investments from...

16.10.2019

466.9 tonnes of goods exported from Kyrgyzstan to Azerbaijan in Jan-Apr 2019

466.9 tonnes of goods were exported from Kyrgyzstan to Azerbaijan in Jan-Apr 2019, the State Tax Service of Kyrgyzstan said.

The goods exported to Azerbaijan totaled $549,500 or 38,356,200,000 som.

In Jan-Apr 2019, the exports to the far abroad and CIS nations amounted to 617,547.59 tonnes.

Reported by AKIpress (Kyrgyzstan).

...

466.9 tonnes of goods were exported from Kyrgyzstan to Azerbaijan in Jan-Apr 2019, the State Tax Service of Kyrgyzstan said.

The goods exported to Azerbaijan totaled $549,500 or 38,356,200,000 som.

In Jan-Apr 2019, the exports to the far abroad and CIS nations amounted to 617,547.59 tonnes.

Reported by AKIpress (Kyrgyzstan).

...

Agriculture

16.10.2019

Farmers of Kyrgyzstan receive soft loans for 5 billion som

Kyrgyz banks issued more than 9.8 thousand loans to farmers in the amount of 4 billion 933 million som. Lending is carried out within the framework of the project Financing of Agriculture 7. Such data were provided by the State Agency for Budget Credit Management.

2.8 thousand loans worth 1 billion...

Kyrgyz banks issued more than 9.8 thousand loans to farmers in the amount of 4 billion 933 million som. Lending is carried out within the framework of the project Financing of Agriculture 7. Such data were provided by the State Agency for Budget Credit Management.

2.8 thousand loans worth 1 billion...

16.10.2019

US benchmark futures for cereals down as forecasts confuse

Chicago soybeans slid on Tuesday as the market fell from its highest in 16 months on concerns over dismal demand in top importer China, although the decline was checked by adverse U.S. weather. Wheat fell, easing from a three month high while corn lost ground. The most-active soybean contract on...

Chicago soybeans slid on Tuesday as the market fell from its highest in 16 months on concerns over dismal demand in top importer China, although the decline was checked by adverse U.S. weather. Wheat fell, easing from a three month high while corn lost ground. The most-active soybean contract on...

Manufacturing industry

16.10.2019

More than 795 thousand square metres of housing is commissioned in Kyrgyzstan since the beginning of the year

Since the beginning of the year, more than 795 thousand square metres of housing have been commissioned in Kyrgyzstan, the National Statistical Committee of Kyrgyzstan reported.

“In January-September 2019, residential buildings with a total area of 795.8 thousand square metres were commissioned, which is 16.1% more than in January-September 2018. The...

Since the beginning of the year, more than 795 thousand square metres of housing have been commissioned in Kyrgyzstan, the National Statistical Committee of Kyrgyzstan reported.

“In January-September 2019, residential buildings with a total area of 795.8 thousand square metres were commissioned, which is 16.1% more than in January-September 2018. The...

Oil and Gas Sector

16.10.2019

Brent dangles between war drums and OPEC perseverance

Oil prices steadied on Tuesday after two days of losses amid U.S.-China trade talks which have investors on edge, but OPEC said it hoped to balance markets beyond 2020 in a sign of possible further supply curbs.

Brent crude fell 4 cents, or 0.07%, to $59.31 a barrel by 1230 GMT,...

Oil prices steadied on Tuesday after two days of losses amid U.S.-China trade talks which have investors on edge, but OPEC said it hoped to balance markets beyond 2020 in a sign of possible further supply curbs.

Brent crude fell 4 cents, or 0.07%, to $59.31 a barrel by 1230 GMT,...

16.10.2019

North Sea region natural gas prices on the rise despite UK oversupply

British prompt wholesale gas prices rose on Tuesday morning supported by significant gas-for-power demand and the expectation of rising residential consumption on Wednesday.

Day-ahead gas rose by 1.00 pence to 30.00 p/therm by 0900 GMT.

Gas for within-day delivery rose by 0.60 p to 30.25 p/therm.

The UK gas system was 1.2 million...

British prompt wholesale gas prices rose on Tuesday morning supported by significant gas-for-power demand and the expectation of rising residential consumption on Wednesday.

Day-ahead gas rose by 1.00 pence to 30.00 p/therm by 0900 GMT.

Gas for within-day delivery rose by 0.60 p to 30.25 p/therm.

The UK gas system was 1.2 million...

Regional News

16.10.2019

Let a trillion flowers bloom: regional experts adopt master plan to stem land degradation in Central Asia

More than 70 scientists, politicians and experts from Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan developed a common programme to solve problems related to biodiversity conservation, land degradation and climate change at a regional trialogue Oct. 9-11 in Almaty.

Central Asia has arid and semi-arid areas characterised by serious transboundary desertification,...

More than 70 scientists, politicians and experts from Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan developed a common programme to solve problems related to biodiversity conservation, land degradation and climate change at a regional trialogue Oct. 9-11 in Almaty.

Central Asia has arid and semi-arid areas characterised by serious transboundary desertification,...

16.10.2019

7th Turkic Council Summit kicks off in Baku

The 7th summit of the Cooperation Council of Turkic Speaking States (Turkic Council) has kicked off in the capital of Azerbaijan Baku.

The event is being attended by heads of the member-states including President of Turkey Recep Tayyip Erdoğan, President of Azerbaijan Ilham Aliyev, President of Kyrgyzstan Sooronbay Jeenbekov and the...

The 7th summit of the Cooperation Council of Turkic Speaking States (Turkic Council) has kicked off in the capital of Azerbaijan Baku.

The event is being attended by heads of the member-states including President of Turkey Recep Tayyip Erdoğan, President of Azerbaijan Ilham Aliyev, President of Kyrgyzstan Sooronbay Jeenbekov and the...

16.10.2019

Aeroflot to cut back its fleet for the first time in over a decade

Aeroflot’s fleet will be reduced for the first time over the past 12 years, Vedomosti writes citing data provided by the air carrier. At the end of 2018, it tallied up a total of 253 airliners, not counting the 50 Russian-made Sukhoi Superjet 100 planes that it already has.

The company...

Aeroflot’s fleet will be reduced for the first time over the past 12 years, Vedomosti writes citing data provided by the air carrier. At the end of 2018, it tallied up a total of 253 airliners, not counting the 50 Russian-made Sukhoi Superjet 100 planes that it already has.

The company...

16.10.2019

Analysts slightly increase forecast of Russia’s grain harvest

In September 2019, APK-Inform analysts adjusted the supply & demand balances of grain crops in Russia, and increased the forecast of grains production in the season-2019/20 to 124 mln tonnes, up 1.8% compared with the previous estimations.

The forecast increased, in accordance with the similar preliminary figures of the Ministry of...

In September 2019, APK-Inform analysts adjusted the supply & demand balances of grain crops in Russia, and increased the forecast of grains production in the season-2019/20 to 124 mln tonnes, up 1.8% compared with the previous estimations.

The forecast increased, in accordance with the similar preliminary figures of the Ministry of...

16.10.2019

Rouble consolidates, stocks strengthen on improved Russian domestic market conditions

The Russian rouble remained unchanged on Tuesday, below a two-week high reached last week, with falling oil prices cancelling out potential gains ahead of Wednesday’s OFZ treasury bond auctions.

Market activity is expected to return to usual levels on Tuesday as traders in the United States return from a public holiday.

At...

The Russian rouble remained unchanged on Tuesday, below a two-week high reached last week, with falling oil prices cancelling out potential gains ahead of Wednesday’s OFZ treasury bond auctions.

Market activity is expected to return to usual levels on Tuesday as traders in the United States return from a public holiday.

At...

16.10.2019

China’s stocks, currency halt advance amidst dim political, economic prognoses

China stocks retreated on Tuesday after five straight sessions of gains, as the latest factory gate data added to China’s economic woes and a deal to end the trade war with the United States remained elusive.

The CSI300 index fell 0.4%, to 3,936.46, by the end of the morning session, while...

China stocks retreated on Tuesday after five straight sessions of gains, as the latest factory gate data added to China’s economic woes and a deal to end the trade war with the United States remained elusive.

The CSI300 index fell 0.4%, to 3,936.46, by the end of the morning session, while...

16.10.2019

China's inflation stays within annual target

China's consumer prices in September remained within the annual target of around 3 percent, with more stabilizing macroeconomic measures to take effect in the near future.

The country's consumer price index (CPI), a main gauge of inflation, rose 3 percent year on year in September, up from 2.8 percent in August...

China's consumer prices in September remained within the annual target of around 3 percent, with more stabilizing macroeconomic measures to take effect in the near future.

The country's consumer price index (CPI), a main gauge of inflation, rose 3 percent year on year in September, up from 2.8 percent in August...

16.10.2019

China's transportation sector maintains steady growth in September

China's transportation industry has expanded steadily in September as an index measuring the vitality of the sector remained at a high level, according to the China Academy of Transportation Sciences.

The China Transportation Services Index (CTSI) stood at 175.7 points last month, up 4.3 percent year on year, as the travel...

China's transportation industry has expanded steadily in September as an index measuring the vitality of the sector remained at a high level, according to the China Academy of Transportation Sciences.

The China Transportation Services Index (CTSI) stood at 175.7 points last month, up 4.3 percent year on year, as the travel...

Prices and Statistics

16.10.2019

Commodities

Date: October 16, 2019; Source: Bloomberg.com Energy
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 52.89 +0.08 +0.15% Nov 2019 1:38 AM
CO1:COMBrent Crude (ICE) USD/bbl. 58.85 +0.11 +0.19% Dec 2019 1:38 AM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 161.76 +0.32 +0.20% Nov 2019 1:27 AM
NG1:COMNatural Gas (Nymex) USD/MMBtu 2.34 +0.00 +0.13% Nov 2019 1:35 AM
HO1:COMHeating Oil (Nymex) USd/gal. 191.59 +0.59 +0.31% Nov 2019 1:38 AM
Precious and Industrial Metals
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
GC1:COMGold (Comex) USD/t oz. 1,487.10 +3.60 +0.24% Dec 2019 1:38 AM
XAUUSD:CURGold Spot USD/t oz. 1,483.79 +2.78 +0.19% N/A 1:49 AM
SI1:COMSilver (Comex) USD/t oz. 17.43 +0.05 +0.29% Dec 2019 1:38 AM
HG1:COMCopper (Comex) USd/lb. 260.25 -1.15 -0.44% Dec 2019 1:38 AM
XPTUSD:CURPlatinum Spot USD/t oz. 886.47 +1.11 +0.13% N/A 1:49 AM
Agriculture
INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
C 1:COMCorn (CBOT) USd/bu. 390.75 -2.50 -0.64% Dec 2019 1:37 AM
W 1:COMWheat (CBOT) USd/bu. 505.50 -1.50 -0.30% Dec 2019 1:35 AM
CC1:COMCocoa (ICE) USD/MT 2,522.00 +73.00 +2.98% Dec 2019 10/15/2019
CT1:COMCotton #2 (ICE) USd/lb. 63.10 -0.43 -0.68% Dec 2019 1:33 AM
LC1:COMLive Cattle (CME) USd/lb. 113.45 0.00 0.00% Dec 2019 10/15/2019

Date: October 16, 2019; Source: Bloomberg.com

Energy

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
CL1:COMWTI Crude Oil (Nymex) USD/bbl. 52.89 +0.08 +0.15% Nov 2019 1:38 AM
CO1:COMBrent Crude (ICE) USD/bbl. 58.85 +0.11 +0.19% Dec 2019 1:38 AM
XB1:COMRBOB Gasoline (Nymex) USd/gal. 161.76 +0.32 +0.20% Nov 2019 1:27 AM
NG1:COMNatural Gas (Nymex) USD/MMBtu 2.34 +0.00 +0.13% Nov 2019 1:35 AM
HO1:COMHeating Oil (Nymex) USd/gal. 191.59 +0.59 +0.31% Nov 2019 1:38 AM

Precious and Industrial Metals

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
GC1:COMGold (Comex) USD/t oz. 1,487.10 +3.60 +0.24% Dec 2019 1:38 AM
XAUUSD:CURGold Spot USD/t oz. 1,483.79 +2.78 +0.19% N/A 1:49 AM
SI1:COMSilver (Comex) USD/t oz. 17.43 +0.05 +0.29% Dec 2019 1:38 AM
HG1:COMCopper (Comex) USd/lb. 260.25 -1.15 -0.44% Dec 2019 1:38 AM
XPTUSD:CURPlatinum Spot USD/t oz. 886.47 +1.11 +0.13% N/A 1:49 AM

Agriculture

INDEX UNITS PRICE CHANGE %CHANGE CONTRACT TIME (EDT)
C 1:COMCorn (CBOT) USd/bu. 390.75 -2.50 -0.64% Dec 2019 1:37 AM
W 1:COMWheat (CBOT) USd/bu. 505.50 -1.50 -0.30% Dec 2019 1:35 AM
CC1:COMCocoa (ICE) USD/MT 2,522.00 +73.00 +2.98% Dec 2019 10/15/2019
CT1:COMCotton #2 (ICE) USd/lb. 63.10 -0.43 -0.68% Dec 2019 1:33 AM
LC1:COMLive Cattle (CME) USd/lb. 113.45 0.00 0.00% Dec 2019 10/15/2019
16.10.2019

Exchange Rates

Date: October 16, 2019; Source: the National Bank of Kyrgyzstan
1 US DOLLAR USD / KGS 69.8396
1 EURO EUR / KGS 77.0051
1 RUSSIAN ROUBLE RUB / KGS 1.0869
1 KAZAKHSTAN TENGE KZT / KGS 0.1793

Date: October 16, 2019; Source: the National Bank of Kyrgyzstan

1 US DOLLAR

USD / KGS

69.8396

1 EURO

EUR / KGS

77.0051

1 RUSSIAN ROUBLE

RUB / KGS

1.0869

1 KAZAKHSTAN TENGE

KZT / KGS

0.1793