Issue 1150 - 15.03.2023
17.03.2023

Sadyr Japarov to pay working visit to Ankara

Sadyr Japarov will pay a working visit to Ankara (Turkey) on March 16-17. Press service of the President of Kyrgyzstan reported.

During the visit, Sadyr Japarov will take part in an extraordinary meeting of the summit of the heads of the member countries of the Organization of Turkic States. The parties will discuss issues of natural disasters caused by natural and man-made hazards, as well as collective response measures.

The summit will be attended by the Presidents of Kyrgyzstan, Turkey, Azerbaijan, Kazakhstan and Uzbekistan, as well as the Prime Minister of Hungary and the Chairman of the Halk Maslakhaty of Turkmenistan Milli Gengesha as states with the status of observers.

During the visit, meeting with the Turkish leader Recep Tayyip Erdogan is also planned, during which topical issues of bilateral cooperation will be discussed.

By 24.kg

Kyrgyzstan General

17.03.2023

Kyrgyzstan’s budget receives 56.3 million som from fight against smuggling over two months

In January and February 2023, the anti-smuggling units of the Customs Service revealed 775 facts of offenses and crimes in the field of customs. This was reported in the SCS.

If for 2 months of 2022 the amount of additional receipts was 9.6 million som, then for January and February of...

In January and February 2023, the anti-smuggling units of the Customs Service revealed 775 facts of offenses and crimes in the field of customs. This was reported in the SCS.

If for 2 months of 2022 the amount of additional receipts was 9.6 million som, then for January and February of...

17.03.2023

VAT plays important role in increasing revenues of state budget of Kyrgyzstan

The state budget of Kyrgyzstan has developed with a deficit of 1.1% of GDP in 2022. In December, the budget balance increased by 1.2% of GDP compared to January-November, EDB analysts write.

They note that over the year, state budget revenues increased by 4.3% of GDP, and expenditures by 5.2% of...

The state budget of Kyrgyzstan has developed with a deficit of 1.1% of GDP in 2022. In December, the budget balance increased by 1.2% of GDP compared to January-November, EDB analysts write.

They note that over the year, state budget revenues increased by 4.3% of GDP, and expenditures by 5.2% of...

Finance and Investment

17.03.2023

Support for som in 2022 cost National Bank of Kyrgyzstan half billion dollar

In the domestic foreign exchange market, in certain periods of the fourth quarter of 2022 in Kyrgyzstan, there was a predominance of demand for foreign currency over its supply due to strengthening external and seasonal factors.

Under these conditions, the National Bank carried out foreign exchange interventions to sell foreign currency...

In the domestic foreign exchange market, in certain periods of the fourth quarter of 2022 in Kyrgyzstan, there was a predominance of demand for foreign currency over its supply due to strengthening external and seasonal factors.

Under these conditions, the National Bank carried out foreign exchange interventions to sell foreign currency...

17.03.2023

Malaysian businessmen ready to invest in Kyrgyzstan in 7 directions

Chargé d'Affaires of Kyrgyzstan in Malaysia Atay Namatbaev invited Malaysian businessmen to invest in mutually beneficial projects in Kyrgyzstan.

During the presentation, Namatbaev spoke about the trade, export and investment potential of Kyrgyzstan in the fields of energy, tourism, agriculture and processing industry, production of bottled water, information technology and healthcare.

President...

Chargé d'Affaires of Kyrgyzstan in Malaysia Atay Namatbaev invited Malaysian businessmen to invest in mutually beneficial projects in Kyrgyzstan.

During the presentation, Namatbaev spoke about the trade, export and investment potential of Kyrgyzstan in the fields of energy, tourism, agriculture and processing industry, production of bottled water, information technology and healthcare.

President...

17.03.2023

Ordinary merchants enrich oligarchs: Kyrgyz President comments on rallies against cash registers

President Sadyr Zhaparov commented on the anti-cash register rallies in an interview with Kabar.

“Let me give more detailed information on cash registers. In our country, ordinary merchants do not hide anything from the state, they always honestly pay taxes. Along with this, they provide for the country and enrich the...

President Sadyr Zhaparov commented on the anti-cash register rallies in an interview with Kabar.

“Let me give more detailed information on cash registers. In our country, ordinary merchants do not hide anything from the state, they always honestly pay taxes. Along with this, they provide for the country and enrich the...

17.03.2023

Domestic debt of Kyrgyzstan increases by 166.5 million som

As of March 13, the internal debt of Kyrgyzstan in government treasury bonds and bills amounted to 91 billion 669 million 165.8 thousand som.

Since March 11, it has grown by 166 million 480 thousand som. The growth is due to an increase in borrowings both through government bonds and promissory...

As of March 13, the internal debt of Kyrgyzstan in government treasury bonds and bills amounted to 91 billion 669 million 165.8 thousand som.

Since March 11, it has grown by 166 million 480 thousand som. The growth is due to an increase in borrowings both through government bonds and promissory...

17.03.2023

Trade balance deficit of Kyrgyzstan in 2022 increases by 2.6 times

At the end of 2022, the trade balance deficit of Kyrgyzstan increased by 2.6 times and amounted to $7.4 billion, EDB analysts write about this in their latest macroeconomic review.

Such dynamics of the indicator was facilitated by a decrease in the value of exports by 20.5% with an increase in...

At the end of 2022, the trade balance deficit of Kyrgyzstan increased by 2.6 times and amounted to $7.4 billion, EDB analysts write about this in their latest macroeconomic review.

Such dynamics of the indicator was facilitated by a decrease in the value of exports by 20.5% with an increase in...

17.03.2023

Kyrgyzstan and Hungary discuss economic cooperation involving potential of joint development fund

Kyrgyzstan and Hungary discussed bilateral economic cooperation with the involvement of the potential of the Hungarian-Kyrgyz Development Fund. This was reported in the Ministry of Foreign Affairs of Kyrgyzstan.

On March 14, Minister of Foreign Affairs of Kyrgyzstan Jeenbek Kulubayev met with the Ambassador of Hungary to Kyrgyzstan, Shandor Dorogi, and...

Kyrgyzstan and Hungary discussed bilateral economic cooperation with the involvement of the potential of the Hungarian-Kyrgyz Development Fund. This was reported in the Ministry of Foreign Affairs of Kyrgyzstan.

On March 14, Minister of Foreign Affairs of Kyrgyzstan Jeenbek Kulubayev met with the Ambassador of Hungary to Kyrgyzstan, Shandor Dorogi, and...

17.03.2023

Commercial banks in Kyrgyzstan buy currencies 3.4 times more than last week

On March 13, commercial banks bought $42 million 300 thousand at interbank foreign exchange auctions. Such data is given in the daily trading statistics.

Of these, banks bought $5 million 750 thousand with settlements on the date of the transaction, another $36 million 550 thousand with settlements other than the date...

On March 13, commercial banks bought $42 million 300 thousand at interbank foreign exchange auctions. Such data is given in the daily trading statistics.

Of these, banks bought $5 million 750 thousand with settlements on the date of the transaction, another $36 million 550 thousand with settlements other than the date...

17.03.2023

Saudi Arabia and Qatar consider joint projects in Kyrgyzstan

A meeting of representatives of business communities from Saudi Arabia and Qatar was held in Bishkek as part of the IBIF-2023 forum. As a result of negotiations at the Forum site, large business structures of Saudi Arabia, JTA Investment Company (Qatar) decided to open a JTA representative office in Saudi...

A meeting of representatives of business communities from Saudi Arabia and Qatar was held in Bishkek as part of the IBIF-2023 forum. As a result of negotiations at the Forum site, large business structures of Saudi Arabia, JTA Investment Company (Qatar) decided to open a JTA representative office in Saudi...

17.03.2023

Cabinet of Ministers adopts business development program for Kyrgyzstan until 2026

In order to implement the National Development Program of Kyrgyzstan, the Cabinet of Ministers adopted a business development program until 2026. This was reported by the press service of the Ministry of Economy.

This program is a set of measures and initiatives of the state and the private sector aimed at...

In order to implement the National Development Program of Kyrgyzstan, the Cabinet of Ministers adopted a business development program until 2026. This was reported by the press service of the Ministry of Economy.

This program is a set of measures and initiatives of the state and the private sector aimed at...

17.03.2023

Kyrgyz Bakai Bank increases its authorised capital to 5.2 billion som

Bakai Bank will increase its authorised capital at the expense of 2022 net profit. The corresponding decision was made by the bank's shareholders at the annual general meeting.

According to the decision, the authorised capital of the bank will be increased to 5 billion 186 million 22 som.

“The increase in capital...

Bakai Bank will increase its authorised capital at the expense of 2022 net profit. The corresponding decision was made by the bank's shareholders at the annual general meeting.

According to the decision, the authorised capital of the bank will be increased to 5 billion 186 million 22 som.

“The increase in capital...

17.03.2023

Kyrgyz Bakai Bank allocates 36% of net profit for dividend payment

The shareholders of Bakai Bank at the annual extraordinary meeting decided to distribute the bank's profit and approve the amount of dividends for 2022. Information about this is posted on the website of the Kyrgyz Stock Exchange.

In particular, the shareholders decided to allocate 36% of the bank's net profit for...

The shareholders of Bakai Bank at the annual extraordinary meeting decided to distribute the bank's profit and approve the amount of dividends for 2022. Information about this is posted on the website of the Kyrgyz Stock Exchange.

In particular, the shareholders decided to allocate 36% of the bank's net profit for...

17.03.2023

Greenback flat as global stock markets veer up

The dollar traded little changed on Tuesday after strong consumer price data revived the likelihood that the Federal Reserve will hike interest rates next week as fears of turmoil spreading in the banking sector faded. The dollar index, a measure of the greenback against six other currencies, fell 0.087%...

The dollar traded little changed on Tuesday after strong consumer price data revived the likelihood that the Federal Reserve will hike interest rates next week as fears of turmoil spreading in the banking sector faded. The dollar index, a measure of the greenback against six other currencies, fell 0.087%...

17.03.2023

Ounce of National Bank gold in Kyrgyzstan rises by $50 over day

The cost of selling gold measured bars of the National Bank on March 14 amounted to 172 thousand 769 som. This was reported on the website of the regulator.

A day earlier, on March 13, the National Bank bought the same amount of gold from the population at a price of...

The cost of selling gold measured bars of the National Bank on March 14 amounted to 172 thousand 769 som. This was reported on the website of the regulator.

A day earlier, on March 13, the National Bank bought the same amount of gold from the population at a price of...

Metals and Minerals

17.03.2023

Excess liquidity of banking system in Kyrgyzstan increases to 48 billion som in 4Q 2022

During 4Q 2022, excess liquidity in the banking sector remained at a high level. This is stated in the report of the NBKR on monetary policy for the fourth quarter of 2022.

The increase in liquidity occurred mainly due to the operations of the monetary and public sectors.

Compared to the third...

During 4Q 2022, excess liquidity in the banking sector remained at a high level. This is stated in the report of the NBKR on monetary policy for the fourth quarter of 2022.

The increase in liquidity occurred mainly due to the operations of the monetary and public sectors.

Compared to the third...

17.03.2023

Kyrgyzstan begins to export three times more to China

The volume of mutual trade between Kyrgyzstan and China in January 2023 reached $304 million 463.6 thousand and increased by 24.9% compared to the same period last year. This was reported in the materials of the National Statistical Committee.

The volume of imports from China amounted to $298 million 752.4 thousand...

The volume of mutual trade between Kyrgyzstan and China in January 2023 reached $304 million 463.6 thousand and increased by 24.9% compared to the same period last year. This was reported in the materials of the National Statistical Committee.

The volume of imports from China amounted to $298 million 752.4 thousand...

17.03.2023

Kyrgyz President Zhaparov on Kumtor case: Tengiz Bolturuk and others must pay for all damages in full

No one can steal a single gram of gold. President Sadyr Zhaparov stated this in an interview with Kabar.

The President explained that the oversight system is well established and, in this regard, Canadians can be given the highest rating.

After that, the correspondent asked a question: The wife of the former...

No one can steal a single gram of gold. President Sadyr Zhaparov stated this in an interview with Kabar.

The President explained that the oversight system is well established and, in this regard, Canadians can be given the highest rating.

After that, the correspondent asked a question: The wife of the former...

17.03.2023

Bullion reverses advance as US banking turmoil ebbs

Gold prices eased on Tuesday, pausing their sharp rally driven by the U.S. banking crisis, as the dollar rebounded, while traders positioned for inflation data that could also influence the Federal Reserve's interest rate strategy.

Spot gold was down 0.5% at $1,903.20 per ounce, as of 0924 GMT. U.S. gold futures...

Gold prices eased on Tuesday, pausing their sharp rally driven by the U.S. banking crisis, as the dollar rebounded, while traders positioned for inflation data that could also influence the Federal Reserve's interest rate strategy.

Spot gold was down 0.5% at $1,903.20 per ounce, as of 0924 GMT. U.S. gold futures...

17.03.2023

Iron ore, coal depreciate as steel commodities show resilience

Dalian iron ore futures pulled back from a contract high on Tuesday, although losses were limited by buoyant steel prices in top steel producer China.

Steel benchmarks scaled nine-month peaks, propelled by improved demand prospects as China has entered its peak spring construction season and more evidence of economic recovery have...

Dalian iron ore futures pulled back from a contract high on Tuesday, although losses were limited by buoyant steel prices in top steel producer China.

Steel benchmarks scaled nine-month peaks, propelled by improved demand prospects as China has entered its peak spring construction season and more evidence of economic recovery have...

17.03.2023

Copper posts losses, nickel advances on mixed outlooks

Copper prices faltered on Tuesday, unsettled by worries about the knock-on impact of a U.S. banking crisis, a stronger dollar and a slow recovery of demand in top metals consumer China.

Three-month copper on the London Metal Exchange shed 0.6% to $8,878.50 a tonne by 1130 GMT after rising by 0.7%...

Copper prices faltered on Tuesday, unsettled by worries about the knock-on impact of a U.S. banking crisis, a stronger dollar and a slow recovery of demand in top metals consumer China.

Three-month copper on the London Metal Exchange shed 0.6% to $8,878.50 a tonne by 1130 GMT after rising by 0.7%...

Energy Industry

17.03.2023

Ministry of Economy finalises amendments on use of electricity

The draft resolution on approval of the rules for the use of electrical energy was removed from the Unified portal for the discussion of draft regulatory legal acts in order to develop alternative mechanisms for the introduction of insurance. This was reported by the press service of the Ministry of...

The draft resolution on approval of the rules for the use of electrical energy was removed from the Unified portal for the discussion of draft regulatory legal acts in order to develop alternative mechanisms for the introduction of insurance. This was reported by the press service of the Ministry of...

Trade and Consumer Goods

17.03.2023

Kyrgyzstan increases imports by 22% in January

In January 2023, the total volume of foreign and mutual trade of Kyrgyzstan amounted to $834 million 700.6 thousand. This was reported in the materials of the National Statistical Committee.

Compared to the same period last year, this indicator increased by 20.5%.

The volume of imports amounted to $709 million 192.9 thousand...

In January 2023, the total volume of foreign and mutual trade of Kyrgyzstan amounted to $834 million 700.6 thousand. This was reported in the materials of the National Statistical Committee.

Compared to the same period last year, this indicator increased by 20.5%.

The volume of imports amounted to $709 million 192.9 thousand...

Agriculture

17.03.2023

Halal certification of industry in Kyrgyzstan implies control of all production

Kyrgyzstan is one of the first in the CIS to develop a system of standardisation and certification of the halal industry. Almaz Kaiyrbekov, Director of the Halal Industry Development Centre under the Ministry of Economy and Commerce, spoke about this on March 13 during the round table "Opportunities and Prospects...

Kyrgyzstan is one of the first in the CIS to develop a system of standardisation and certification of the halal industry. Almaz Kaiyrbekov, Director of the Halal Industry Development Centre under the Ministry of Economy and Commerce, spoke about this on March 13 during the round table "Opportunities and Prospects...

17.03.2023

FAO trains food safety specialists in Kyrgyzstan

From March 13 to March 16, Kyrgyzstan is hosting an international training on training food safety specialists for the country's fruit and vegetable industry, organised by the Food and Agriculture Organisation of the United Nations (FAO).

It is attended by representatives of various government organisations, higher education institutions, business associations and...

From March 13 to March 16, Kyrgyzstan is hosting an international training on training food safety specialists for the country's fruit and vegetable industry, organised by the Food and Agriculture Organisation of the United Nations (FAO).

It is attended by representatives of various government organisations, higher education institutions, business associations and...

17.03.2023

US wheat contract consolidates on Black Sea stalemate

Chicago wheat futures were largely flat on Tuesday, holding on to gains seen in the previous two sessions as concerns over dryness in parts of the U.S. winter crop supported the market.

Corn prices eased on pressure from estimates of record Brazilian crop, while soybeans were little changed.

“There is some dryness...

Chicago wheat futures were largely flat on Tuesday, holding on to gains seen in the previous two sessions as concerns over dryness in parts of the U.S. winter crop supported the market.

Corn prices eased on pressure from estimates of record Brazilian crop, while soybeans were little changed.

“There is some dryness...

Manufacturing industry

17.03.2023

Kyrgyz Parliament member proposes to reduce interest rate of State Mortgage Company to 2%

The Committee on Law and Order, Combating Crime and Anti-Corruption of the Parliament on March 14, 2023, heard information from the commission on the results of the inspection of the activities of State Mortgage Company.

Deputy Emil Zhamgyrchiev presented information on the results of the inspection of the activities of State...

The Committee on Law and Order, Combating Crime and Anti-Corruption of the Parliament on March 14, 2023, heard information from the commission on the results of the inspection of the activities of State Mortgage Company.

Deputy Emil Zhamgyrchiev presented information on the results of the inspection of the activities of State...

17.03.2023

Shareholders of Bishkekkurulush meet on issue of payment of dividends

Bishkekkurulush will hold an annual general meeting of shareholders on April 14. It is reported by the Kyrgyz Stock Exchange.

Shareholders of the company acting as of March 20 will take part in the meeting.

It is specified that there are seven issues on the agenda of the meeting. Among other things,...

Bishkekkurulush will hold an annual general meeting of shareholders on April 14. It is reported by the Kyrgyz Stock Exchange.

Shareholders of the company acting as of March 20 will take part in the meeting.

It is specified that there are seven issues on the agenda of the meeting. Among other things,...

17.03.2023

Kyrgyz-Uzbek car assembly plant starts operating from July

Registration of the assembly of the first car at the Kyrgyz-Uzbek enterprise near Bishkek is scheduled for July 10 this year. Ainura Usenbekova, Deputy Minister of Economy and Commerce of Kyrgyzstan, spoke about this today at a meeting of the Parliamentary Committee on the Fuel and Energy Complex, Subsoil Use...

Registration of the assembly of the first car at the Kyrgyz-Uzbek enterprise near Bishkek is scheduled for July 10 this year. Ainura Usenbekova, Deputy Minister of Economy and Commerce of Kyrgyzstan, spoke about this today at a meeting of the Parliamentary Committee on the Fuel and Energy Complex, Subsoil Use...

Oil and Gas Sector

17.03.2023

Brent drops sharply below $80/b threshold

Oil prices dropped over 4% to a three-month low on Tuesday after a U.S. inflation report and the recent U.S. bank failures sparked fears of a fresh financial crisis that could reduce future oil demand.

Brent futures fell $3.32, or 4.1%, to settle at $77.45 a barrel, while U.S. West Texas...

Oil prices dropped over 4% to a three-month low on Tuesday after a U.S. inflation report and the recent U.S. bank failures sparked fears of a fresh financial crisis that could reduce future oil demand.

Brent futures fell $3.32, or 4.1%, to settle at $77.45 a barrel, while U.S. West Texas...

17.03.2023

Bears stick with natural gas benchmarks

Dutch and British wholesale gas prices fell for a second day on Tuesday morning, as mild, windy forecasts eased demand from the power sector, but strikes at French LNG terminals and problems at French nuclear plants still provide support.

The benchmark front-month contract at the Dutch TTF hub was down 6.35...

Dutch and British wholesale gas prices fell for a second day on Tuesday morning, as mild, windy forecasts eased demand from the power sector, but strikes at French LNG terminals and problems at French nuclear plants still provide support.

The benchmark front-month contract at the Dutch TTF hub was down 6.35...

Regional News

17.03.2023

Russian customs service declassifies trade info

The Federal Customs Service (FCS) published data on Russia's foreign trade for the first time since the start of the military operation in Ukraine. We are talking about the value of imports and exports. The last time such information was provided was in January 2022, then it was closed (as...

The Federal Customs Service (FCS) published data on Russia's foreign trade for the first time since the start of the military operation in Ukraine. We are talking about the value of imports and exports. The last time such information was provided was in January 2022, then it was closed (as...

17.03.2023

Russian market finds it difficult to resist external trouble

The mood on foreign markets is pessimistic, the markets continue to win back the negative news about the bankruptcy of several American banks, which promises an increased risk of a global economic crisis. The collapse of Silicon Valley Bank was associated with an increase in the discount rate of the...

The mood on foreign markets is pessimistic, the markets continue to win back the negative news about the bankruptcy of several American banks, which promises an increased risk of a global economic crisis. The collapse of Silicon Valley Bank was associated with an increase in the discount rate of the...

17.03.2023

Russia broadly braves various kinds of sanctions as West tries in vain to trace loopholes

“Every cloud has a silver lining," is a familiar line of reassurance, and Russian President Vladimir Putin reached for it, recently, as he commented on the slew of sanctions imposed on Moscow by the West and its allies in recent years. They are  “a powerful step towards greater economic and financial sovereignty,...

“Every cloud has a silver lining," is a familiar line of reassurance, and Russian President Vladimir Putin reached for it, recently, as he commented on the slew of sanctions imposed on Moscow by the West and its allies in recent years. They are  “a powerful step towards greater economic and financial sovereignty,...

17.03.2023

Bears return to China’s currency market

China's yuan slipped on Tuesday from a near one-month high hit a day earlier, as Chinese companies took advantage of broad weakness in the greenback to load up on dollars.

The U.S. dollar languished near a multi-week low as fears of a broader systemic crisis following the collapse of a U.S....

China's yuan slipped on Tuesday from a near one-month high hit a day earlier, as Chinese companies took advantage of broad weakness in the greenback to load up on dollars.

The U.S. dollar languished near a multi-week low as fears of a broader systemic crisis following the collapse of a U.S....

17.03.2023

China stock markets tumble in US banking crisis’ wake

China and Hong Kong stocks fell to their lowest in more than two months on Tuesday, as fears about contagion from the collapse of Silicon Valley Bank (SVB) lingered.

 China's blue-chip CSI300 Index closed down 0.6%, after touching its lowest since early January. The Shanghai Composite Index lost 0.7%.

Hong Kong's benchmark...

China and Hong Kong stocks fell to their lowest in more than two months on Tuesday, as fears about contagion from the collapse of Silicon Valley Bank (SVB) lingered.

 China's blue-chip CSI300 Index closed down 0.6%, after touching its lowest since early January. The Shanghai Composite Index lost 0.7%.

Hong Kong's benchmark...

17.03.2023

China's fixed-asset investment up 5.5 pct in Jan-Feb

China's fixed-asset investment went up 5.5 percent year on year in the first two months of this year, 0.4 percentage points higher than the full-year growth rate of 2022, data from the National Bureau of Statistics showed Wednesday.

The investment totaled 5.3577 trillion yuan (about 780 billion U.S. dollars) in January...

China's fixed-asset investment went up 5.5 percent year on year in the first two months of this year, 0.4 percentage points higher than the full-year growth rate of 2022, data from the National Bureau of Statistics showed Wednesday.

The investment totaled 5.3577 trillion yuan (about 780 billion U.S. dollars) in January...