Impact of the World Crisis on the Economy of the Kyrgyz Republic, Summer 2009

Saturday, September 5, 2009 | Download PDF in English

For the first time, risks and threats resulting from the negative impact of the world crisis on the economy of the Kyrgyz Republic (KR) were mentioned in the statement of the KR President in January 2008. Among those mentioned were reducing liquidity and increased costs of resources in the international financial system, a noticeable decrease in aggregate demand and global trade, increasing uncertainty and lack of trust experienced in 2008. Alongside these factors the Republic’s economy has also been affected by the influence of domestic factors, in particular, unstable operations of the hydropower sector. In 2008-2009 the management of the Republic has not only taken measures to minimize the mentioned risks, but has also committed to implement serious internal economic transformations and reforms.

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Azamat Dikambaev

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