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The document ceased to be valid since  January 1, 2017 according to article 2 of the Law of the Kyrgyz Republic of  May 16, 2016 No. 60

LAW OF THE KYRGYZ REPUBLIC

of June 11, 1998 No. 78

About the basic principles of the budget right in the Kyrgyz Republic

(as amended on 22-06-2016)

Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on March 20, 1998

Approved by the Meeting of national representatives of Jogorku Kenesh of the Kyrgyz Republic on May 8, 1998

This Law determines the basic principles of forming and execution of the republican budget and local budgets of the Kyrgyz Republic.

Section I. General provisions

Article 1. Structure of the budget system and independence of budgets

The budget system of the Kyrgyz Republic - the system of the relations regulated by rules of law on creation, consideration, approval and execution republican and local budgets, off-budget funds, based on the economic relation and state system of the Kyrgyz Republic.

Basis of independence of budgets is availability of own sources of the income established by the legislation of the Kyrgyz Republic at all links of the budget system.

Intervention of public authorities in process of creation and approval of local budgets is not allowed, except as specified, connected with non-compliance in local budgets of standard rates of assignments from nation-wide taxes and other income, and also the sizes of transfers.

Intervention of public authorities in process of execution of local budgets by executive bodies of local self-government is not allowed, except as specified, provided by this Law.

Article 2. Budget process

The republican budget and local budgets are constituted and affirm for a period of three years - the next fiscal year and two subsequent predicted years.

The republican budget is constituted and performed by the Government of the Kyrgyz Republic, local budgets executive bodies of local self-government. The republican budget is considered and affirms Jogorku Kenesh of the Kyrgyz Republic, local budgets - ayylny and city keneshes.

The budget of judicial authority is created by independently judicial authority and in coordination with executive and legislature joins in the republican budget and is its component.

The procedure for creation, consideration, approval and execution of the republican budget is determined by this Law, and local budgets - this Law, the Law of the Kyrgyz Republic "About financial and economic bases of local self-government", - other laws of the Kyrgyz Republic and decisions of ayylny and city keneshes within the legislation of the Kyrgyz Republic.

Changes in the law on the republican budget, drafts of the laws on introduction or cancellation of taxes, on release from their payment, change of financial liabilities of the state, other drafts of the laws providing increase in the expenses covered at the expense of the government budget or reducing its revenues can be accepted only with the consent of the Government of the Kyrgyz Republic.

Article 3. The government (consolidated) budget

The Ministry of Finance of the Kyrgyz Republic annually calculates the integrated forecast indicators of the government (consolidated) budget of the Kyrgyz Republic for the next fiscal year and two subsequent predicted years, and also creates the government (consolidated) budget and the annual statement about its execution by summing of the budgets approved in accordance with the established procedure entering the budget system of the Kyrgyz Republic, and annual statements about their execution.

The government (consolidated) budget of the Kyrgyz Republic concentrates in itself part of the gross domestic product (GDP) of the state, is the main financial plan of education and use of fund of its money and represents profit and loss budgets of relevant organs of the government and local self-government.

Article 4. Budget and public authorities and local self-government

The law on the republican budget of the Kyrgyz Republic authorizes the Government of the Kyrgyz Republic, local government bodies on implementation of expenses and adoption of obligations.

Article 5. Budget regulation and budget financial policy

The budget regulation and forecasting is component of regulation of economy and forecasting of social and economic development of the Kyrgyz Republic.

The government of the Kyrgyz Republic, local government bodies pursue single budget financial policy.

The Kyrgyz Republic within interstate agreements and international treaties coordinates budget financial policy of the republic with other states.

Article 6. Interbudget relations

The interbudget relations is set of the relations between state bodies, local government bodies concerning regulation of the budget legal relationship, and also the organization and implementation of the budget process.

The interbudget relations are based on accurate differentiation of functions and powers between state bodies and local government bodies, single income distribution and expenses between republican and local budgets, unity of methodology of the budget regulation.

Relations between the republican budget and local budgets are regulated by this Law, the Law of the Kyrgyz Republic "About financial and economic bases of local self-government", other regulatory legal acts of the Kyrgyz Republic.

Transfer of separate types of the fixed sources of the income from one level of the budget in other level of the budget is not allowed.

The interbudget relations are based on the following principles:

- distribution and fixing of the income to each budget of the budget system of the Kyrgyz Republic;

- differentiation on permanent or long-term basis of account powers of public authorities and local self-government;

- determination on permanent or long-term basis of standard rates of distribution of nation-wide taxes and other income between budgets;

- equalization of levels of the minimum fiscal capacity of local budgets;

- expense recovery, the account powers connected with transfer or decision making which caused additional expenses or losses of the income of budgets.

Relations between the republican budget and local budgets are regulated by means of establishment of standard rates of assignment from nation-wide taxes and other income and transfers.

Join in system of transfers:

- the leveling grants;

- the stimulating grants;

- categorical grants;

- the means transferred by mutual calculations from one budget to other budget;

- budget advances.

Article 7. Coordination legislative and regulations

Drafts of the laws and other regulatory legal acts, in which find reflection, the questions concerning the republican budget are approved previously with the Ministry of Finance of the Kyrgyz Republic.

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