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Kyrgyz Republic Kyrgyz Republic

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Kyrgyz Republic

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EconomicPoliticalStructural

Kyrgyz Republic – Quick View
ECR score28.35 (Mar 2011)
ECR rank141 (Mar 2011)
Economic
GDP 2010USD 4.61 billion
GNI per capita PPPUSD 2,291
FDI inflowUSD 910.3 million
Inflation 2010 E6%
Central bank assetsUSD 1,893.10 million
Unemployment rate 20102.6%
Government deficitUSD 234.24 million
Tax revenueUSD 1248.35 million
Political
Government typeParliamentary democracy
Recent political crisisNA
Economic freedom score88th
Freedom of information score159th
Corruption perception index164th
Structural
Birth rate25 per '000
Population balanceUnder 14 - 30.1%
Population balanceOver 60 – 6.5%
Life expectancy yearsMale – 65.2 years
Life expectancy yearsFemale – 73.2 years
Mortality rate6.7 per '000
Literacy rate99%
Internet access39.8%

[Top] Economic Overview

The Kyrgyz Republic's economy has been growing at a slow pace. The economy is primarily dependent on agriculture, fisheries and farming sectors. Kyrgyzstan's main exports are tobacco and cotton.

Gross domestic product

The GDP of the Kyrgyz Republic increased steadily at a growth rate of 16.03% between 2005 and 2010. In 2010, the GDP of Kyrgyzstan was KGS 212.2 billion, increasing from KGS 201.2 billion in 2009.

However, Kyrgyzstan’s economic prospects have declined in the past two years. The Kyrgyz Republic’s real growth rate in 2010 declined to 1.4% from 2.9% in 2009.

Kyrgyz Republic GDP and GDP Real Growth Rate

 

(Source: nbkr.kg)


Gross national income per capita at purchasing power parity

Kyrgyzstan's GNI per capita at PPP was USD 2,291 in 2010, an increase from USD 1,804 in 2005.

 

 

Kyrgyz Republic GNI per capita at PPP

(Source: UNDP)

Income tax

Income tax on Individual incomes is 10% in the Kyrgyz Republic.

(Source: heritage.org)

Corporate tax

Standard corporate tax in the Kyrgyz Republic is 10%. (Source: heritage.org)

 

Tax contribution

Total tax rate (% profit)

Corporate income tax

8.9

Sales tax

26.5

Pension fund contributions

19.3

Medical insurance contributions

2.3

Land tax

0.1

(Source: doingbusiness.org)

 

Inflation rate

The inflation rate in the Kyrgyz Republic in 2010 was estimated to be 6%. Inflation, in terms of consumer price change (annual %), was calculated at -0.03% in 2009.

 

 

Kyrgyz Republic Inflation Rate

(Source: IMF)

Foreign direct investment (FDI) inflow

In October 2010, FDI inflows reached USD 910.3 million, a decrease from USD 152.2 million in 2009.

 

Kyrgyz Republic Foreign Direct Investment

(Source:nbkr.kg)

Portfolio investments inflow

The portfolio investment for October 2010 was USD 4.7 billion. In 2009, the Kyrgyz Republic saw investments worth USD 21.2 million, an increase of USD 12.5 million compared to USD 8.7 million in 2008.

 

Kyrgyz Republic Portfolio Investment Inflow

(Source:nbkr.kg)

Banking sector assets

The table below shows the assets of the Central Bank of Kyrgyz Republic.

Currency Unit: Kyrgyz Som (KGS)

 

 

 

 

Assets of Central Bank of Kyrgyz Republic (KGS million)

 

2010

2009

Precious metals

5,500.9

4,002.7

Funds placed with banks and other financial institutions

59,397.1

44,585.3

Investments available for sale

15,558.0

20,785.0

Held-to-maturity investments

3,026.8

2,907.5

Investments in subsidiaries

2,015.0

2,015.0

Fixed assets and intangible assets

532.2

503.0

Other assets

992.6

897.1

Total  Assets

87,022.6

75,695.7

(Source: nbkr.kg)

[Top] Financial Indicators & Government Financial

Consumer price index

In 2010, the consumer price index was 119.2 compared to 100.0 in 2009. Consumer prices have been fluctuating between 2005 and 2010.

 

Kyrgyz Republic Consumer Price Index

(Source: nbkr.kg)

Interest rates

Time deposits rate are:

Time Deposits for Legal Entities (%)

 

2010

2009

0-1 month

7.51

4.42

1-3 months

5.52

7.46

3-6 months

10.17

8.89

6-12 months

10.86

8.93

over 1 year

6.41

12.80

0-1 month

7.51

4.42

(Source:nbkr.kg)

 Time Deposits for lndividuals (%)

 

2010

2009

0-1 month

11.52

10.18

1-3 months

10.90

10.53

3-6 months

11.83

11.60

6-12 months

13.29

12.92

over 1 year

14.05

14.16

0-1 month

11.52

10.18

(Source:nbkr.kg)

Money supply (currency in circulation)

In 2010, the amount of money in circulation was KGS 43,290.3 million compared to 35,738.7 in 2009.

Kyrgyz Republic Money Indicators

(Source:nbkr.kg)

Public debt

Between 2005 and 2010, Kyrgyzstan's public debt level was continuously increasing. In 2010, public debt reached USD 2,643.6 million compared to USD 2,502.9 million in 2009.

 

Kyrgyz Republic Public Debt

(Source:nbkr.kg)

Government expenditure

Government expenditure in 2010 was KGS 61,583.2 million compared to KGS 50,034.3 million in 2009.

 

Kyrgyz Republic Total Expenditure

(Source:nbkr.kg)

Official exchange rate

KGS (per USD) in 2010 was 45.96, an increase of 7.15% compared to 42.89 in 2009.

Kyrgyz Republic Exchange Rate

(Source:nbkr.kg)

 

Government finances

Fiscal balance

The fiscal balance for 2010 showed a deficit of KGS 10,767.9 million, a sharp increase of KGS 7,844.6 million compared to a deficit of KGS 2,923.3 million in 2009.

Kyrgyz Republic Fiscal Balance

(Source:nbkr.kg)

Total revenue

The Kyrgyz Republic's revenue in 2010 was KGS 57,384.6 million, an increase of approximately 3.72% from the 2009 level of KGS 55,322.1 million.

 

 

Kyrgyz Republic Total Revenue

(Source:nbkr.kg)

 

Tax revenue

Tax revenues in the Kyrgyz Republic amounted to KGS 57,384.6 million in 2010, an increase of KGS 21,286.8 million compared to KGS 36,097.8 million in 2009.

Kyrgyz Republic Tax Revenue

(Source:nbkr.kg)

Current account balance

The Kyrgyz Republic was running a current account deficit of USD 111.6 million in Q3 2010, compared to USD 33 million in Q3-2009.

 

Kyrgyz Republic Current Account Balance

(Source:nbkr.kg)

Balance of payments

The balance of payments in Q3 2010 was running a surplus of USD 1.2 million compared to a deficit of USD 136 million in Q3 2009.

Balance of Payments (USD Million)

 

Q3 2010

Q3 2009

Current account

 

-111.6

 

 

-33.0

 

Capital and financial account

 

146.0

 

 

213.4

 

Errors and omissions

 

-33.2

 

 

-316.3

 

Total balance

 

1.2

 

 

-136.0

 

(Source:nbkr.kg)

[Top] Labour Force and Employment Overview

Labour force

The labour force in the Kyrgyz Republic was calcultaed to be 2.42 million people in 2009. Men accounted for 1.40 million and women for 1.02 million fo the total labour force.

(Source: National Statistics)

In 2008, the labour force participation rate for women was 56% and 80% for men.

(Source: World Bank, World Bank)

Unemployment rate

Between 2006 to 2010, unemployment was continuously declining. In 2010, the unemployment rate reached 2.6 % remaining the same as the previous year.

 

Kyrgyz Republic Unemployment Rate

(Source:nbkr.kg)

Minimum wage

Average nominal wages for 2010 were KGS 7,142, a 14.21% increase in wage levels compared to KGS 6,253 in 2009.

(Source:nbkr.kg)

[Top] Political Stability

The Kyrgyz Republic has a parliamentary democracy in place and has a president as Head of State. Kyrgyzstan's president may remain in office for a tenure of five years and the prime minister and cabinet members are appointed by the president.

Roza Otunbayeva is the current caretaker president and also the head of the provisional government since President Kurmanbek Bakiyev was removed from power.

The political parties in the Kyrgyz Republic are:

  •          Ak Zhol
  •          Ak-Shumkar Party
  •          Asaba
  •          Ata-Meken Party
  •          Party of Communists of Kyrgyzstan
  •          Social Democratic Party of Kyrgyzstan

(Source: BBC, fco.gov.uk)

Regulatory environment

Kyrgyzstan's economic freedom score is 61.1, making the Kyrgyz Republic's economy the 88th freest in the 2011 Index of Economic Freedom. Kyrgyz Republic ranks 12th out of 41 countries in Asia–Pacific region. Kyrgyzstan's overall score is lower than the previous year.

 

Kyrgyz Republic Economic Freedom Indices

(Source:Heritage.org)

 

Corruption perception

The Corruption Perceptions Index (CPI) is a survey to measure the perceived level of corruption across countries worldwide. The Kyrgyz Republic is ranked 164th on the 2010 index, indicating the corruption levels in public departments is high.

The Kyrgyz Republic's ranking declined from its 2009 position where it was ranked 162nd.

(Source:transparency.org)

 

Freedom of information

The media in the Kyrgyz Republic is restricted. Kyrgyzstan has enjoyed editorial freedom in comparison to some of its regional neighbours. Due to the political instability, freedom of the media is restricted.

(Source: BBC)

According to the World Press Freedom Index 2010, Kyrgyz Republic is ranked 159th with a score of 63.0, indicating that the freedom of the press is restricted.

(Source: rsf.org)

Newspapers include:

  •          Slovo Kyrgyzstana
  •          Vecherniy Bishkek
  •          MSN
  •          ResPublica
  •          Delo No
  •          RIF Obozreniye
  •          Obshchestvennyy Reyting
  •          Times of Central Asia

(Source: BBC)

Judicial system

The judiciary in the Kyrgyz Republic consists of a:

  •          Constitutional Court
  •          Supreme Court
  •          Local courts
  •          Specialized courts

The Constitutional Court is the highest court of justice and is made up of a chairman, deputy chairman and seven judges. The Supreme Court deals with criminal, civil, administrative legal procedures and other cases. The local courts are a court of first instance which deal with administrative, civil, criminal and economic cases.

(Source: ibc.kg)

[Top] Demographic Overview

The total population of the Kyrgyz Republic in 2010 was 5,418,300, increasing by 1.30% from the previous year. 2,674,800 of the total population are male and 2,743,500 are female.

(Source: National Statistics)

The gender ratio in Kyrgyzstan is imbalanced i.e. there are about 1,026 males for every 1,000 females.

(Source: National Statistics)

 

Kyrgyz Republic Population by Gender

The birth rate (per thousand population) in 2009 was 25 per year. In 2009, the mortality rate (per 1,000 live births) was 6.7 per year. The infant mortality rate (per thousand live births) was 25 per year in 2009. The average life expectancy at birth in the Kyrgyz Republic for males was 65.2 years and  73.2 years for females in 2009.

(Source: National Statistics, National Statistics, National Statistics, National Statistics)

The population below the age of 14 in the Kyrgyz Republic was 30.1%, the population aged 15 to 59 years was 63.4% and the population aged 60 and above was 6.5% in 2010.

 

Kyrgyz Republic Population by Age Group

(Source: National Statistics)

In 2009, total migration was recorded at 37,209, of which 3,829 were immigrants and 33,380 emigrants.

(Source: National Statistics)

The urban population of Kyrgyzstan grew at an annual average rate of 1.2% between 2005 and 2010. For the same period, the rural population grew at a slower rate of 0.8% per year.

 (Source: UN)

The main ethnic groups in the Kyrgyz Republic are Kyrgyz, who made up 71% of the population, followed by Uzbeks with 14.3%, Russian with 7.8% and others representing 6.9% in 2009.

(Source: National Statistics)

The Kyrgyz Republic ranks 109th out of 182 countries on the Human Development index 2009 conducted by the United Nations. The HDI provides a composite measure of three dimensions of human development: living a long and healthy life (measured by life expectancy), being educated (measured by adult literacy and gross enrolment in education) and having a decent standard of living (measured by purchasing power parity, PPP, income). 

(Source: UNDP)

[Top] Soft Infrastructure

Literacy rate

Kyrgyzstan's literacy rate was estimated to be 99% between 2005 to 2008.

(Source: UNICEF)

Education resources

Kyrgyzstan has developed its own education system. The education structure includes pre-school education, secondary school education, primary, secondary and higher professional education. In 2010, expenditure for secondary education was estimated at 3.5% of GDP.

Between 2007 and 2010, total spending on education was USD 800 million.

According to the constitution of the Kyrgyz Republic it is compulsory for children to have at least six years of education. Kyrgyzstan has 594 preschool organisations, 2,212 secondary schools and 2,191 general schools.

(Source: National Statistics, UN)

Health care

Kyrgyzstan has implemented a national health care system called the ‘Manas taalimi’ program. The Kyrgyz Republic healthcare objectives are to improve the health care system and make sure it provides efficient services to all individuals and society as a whole. It also aims to be transparent, make efficient use of resources and improve access to healthcare facilities.

(Source: UN)

In 2009, the Kyrgyz Republic had 27,791 hospital beds.

Public spending on healthcare as % of GDP in the Kyrgyz Republic is approximately 3.5%.

(Source: National Statistics, UNDP)

[Top] Hard Infrastructure

Kyrgyzstan's main modes of public transport are by road (mainly buses and cabs), railway, and air travel.

Roadways

In the Kyrgyz Republic, the total length of roads is 34,000 km, of which 18,810 km are public roads and 15,190 km are roads for agricultural use, in cities, industrial estates, villages and other enterprises.

The international roads make up 4163.0 km, including 5,678 km of state roads and 8969.0 km of local roads.

(Source:Ministry of Transport and Communications)

 

Airports

 

Town

Airport name

Runway length (ft)

Bishkek

Manas

13,700

Osh

Osh

8,500

(Source: Air charter world)

Telecommunications networks

In 2010, 2.19 million people i.e. 39.8% of the total population used internet services.

 

The number of fixed telephone lines in the Kyrgyz Republic has increased from 416,000 in 2004 to 553,500 in 2009 registering a CAGR of 3.7%. The use of fixed telephone lines has increased from 8.06 per 100 inhabitants in 2004 to 9.09 per 100 inhabitants in 2009.

(Source: ITU)

The number of mobile phone subscriptions rose from 263,400 in 2004 to 4,487,100 in 2009 registering a CAGR of 76.3%. The ratio of mobile phone subscriptions to fixed telephone lines was 9.0:1, indicating that the amount of mobile phones in use is lower than the use of fixed telephone lines.

(Source: ITU)

 

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