In 2017 Kyrgyzstan’s budget deficit is projected to amount to 23 billion som

Almaty. February 8. Silkroadnews – Finance Ministry of Kyrgyzstan forecasts a budget deficit in the amount of 23 billion som or 4.7% of GDP in 2017, KyrTAG writes.

“In 2017 the budget deficit is planned to amount to 23 billion som or 4.7% of GDP, with the sources to cover the debt available. In 2016 the budget deficit reached the level of 20.9 billion som, i.e. 4.5% of GDP, versus the plan of 22.1 billion som and 4.1% of GDP”, the state’s minister of finance Adylbek Kasymaliev said on Wednesday.

According to him, a lot of criticism the government receives relate to this issue.

“Our citizens consider this as a situation when the state could not finance the costs. Deficit mainly occurs when we take loans and grants to build out infrastructure facilities, these are the very loans we get to develop our energy sector, construction of roads, such as the North-South, modernize thermal power station in Bishkek and Toktogul hydro power plant, develop agriculture, in particular, irrigation and water supply sectors, health and education fields”, he explained.