Kyrgyzstan’s Minister of Economy and Commerce, Daniyar Amangeldiev, shared an optimistic outlook today, projecting that by the close of 2023, the inflation rate in the country will not surpass 10%.
Speaking at a press conference hosted by the Kabar agency, Amangeldiev attributed the previous inflationary challenges to heightened global demand for food products and a double-digit inflation rate worldwide.
Acknowledging the effectiveness of the government’s fiscal policies, he emphasized their role in curbing hyperinflation. Amangeldiev highlighted that the Cabinet of Ministers successfully maintained price stability for socially significant goods by exempting them from value-added tax (VAT).
Despite the shortfall of approximately 60 billion soms in the budget, as noted by the Accounts Chamber, Amangeldiev reassured that these funds would be directed towards sustaining the real incomes of the population. He explained that this strategy helped ease the burden on citizens who would have otherwise borne the indirect tax.”
