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RESOLUTION OF JOGORKU KENESH OF THE KYRGYZ REPUBLIC

of January 27, 2011 No. 119-V

About the main directions of the republican budget of the Kyrgyz Republic for 2011

Having considered the main directions of the republican budget of the Kyrgyz Republic for 2011, the Jogorku Kenesh of the Kyrgyz Republic decides:

1. Accept the main directions of the republican budget of the Kyrgyz Republic for 2011 it (is applied).

2. To provide to the government of the Kyrgyz Republic forming of the bill of the Kyrgyz Republic "About the republican budget of the Kyrgyz Republic for 2011", being guided by the main priorities and the directions determined by the main directions of the republican budget of the Kyrgyz Republic for 2011 and also to consider recommendations when forming forecasts of the republican budget for 2012 - 2013.

 

Toraga Jogorku Kenesh

Kyrgyz Republic A. Keldibekov

Accepted by the resolution of Jogorku Kenesh of the Kyrgyz Republic of January 27, 2011 No. 119-V

The main directions of the republican budget of the Kyrgyz Republic for 2011

Determination of the main priorities in the budget policy of the country for 2011 falls on the period when the republic is in instability condition, both in political, and in the economic plan. April and June events of 2010 caused economic collapse. Decrease in GDP constituted percent 1,5 in case of the forecast of real GDP growth for percent 5,5. The rate of inflation to previous year made 17 percent.

Under the threat of failure there were questions of providing social needs of needy segments of the population, compensations of the budget workers, in particular teachers and health workers.

For the purpose of prevention of similar risks the budget policy shall be directed to overcoming these risks.

In view of these changes, Jogorku Kenesh of the Kyrgyz Republic offers the following main priorities of the budget policy for 2011:

- priority of public financing of education;

- balance of internal opportunities with costs of the state;

- development and deployment of new technologies of determination of debt policy and its realization;

- creation of conditions for legalization of the shadow sector of economy, by review of fiscal policy;

- decrease in inefficiently used expenses to 10 percent from the total amount of the republican budget, having directed them to wages increase to workers of the budget sphere;

- introduction of the three-year moratorium on increase in expenses of state bodies, having reduced their quantity;

- optimization of the mechanism of income redistribution of republican and local budgets for increase in sales opportunities of social projects and programs local budgets;

- creation of the legislation for formation of the single Consolidated budget of the Kyrgyz Republic where means of the operating funds shall be accumulated: reserve funds of the President and the Government, Social fund, Fund of compulsory medical insurance, the Budget of development, Special fund of refinancing of banks under National Bank and other various funds providing support of separate emergency situations and especially important actions;

- cancellation of the taxation on special means of education system;

- reducing budget deficit to the level of 5 percent to GDP;

- refining of forecasts of total income of the republican budget for types of their receipts, having provided their growth to 10 percent due to optimization of administration tax, customs and other legislations, by reducing amount of shadow goods turnover and the rendered services;

- minimization of expenses on foreign debt service from the republican budget;

- reducing amount of external borrowings according to the program of the state investments aimed not at the development of economy.

The next two years the main directions of the budget policy which shall be reference point when forming the draft of the republican budget for 2012-2013 taking into account adjustment of its key parameters are offered:

1) achievement of stability of macroeconomic situation;

2) stability of financial system of the state;

3) ensuring food and energy security of the country;

4) creation of the favorable investment circle;

5) optimization of system effectiveness of the public expenditures and policy of address protection of vulnerable segments of the population;

6) development of the efficient market of government securities of the Kyrgyz Republic and expansion of its range;

7) strengthening of the reporting and responsibility of state bodies;

8) adoption of the program of crisis response measures for the short-term period (1-3 years) for mobilization of resources of the state on the solution of priority tasks and increase in efficiency of the budget policy.

 

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