Kyrgyz Republic : Fiscal Sustainability Study

The study reviews the macroeconomic developments in the Kyrgyz Republic following the collapse of the Soviet Union, when adjustments were required since output fell by fifty percent between 1991-95, resulting in adverse fiscal consequences, which t...

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Main Author: World Bank
Format: Publication
Language:English
en_US
Published: Washington, DC 2013
Subjects:
ADB
TAX
WTO
Online Access:http://documents.worldbank.org/curated/en/2001/12/1652162/kyrgyz-republic-fiscal-sustainability-study
http://hdl.handle.net/10986/14031
id okr-10986-14031
recordtype oai_dc
spelling okr-10986-140312021-04-23T14:03:10Z Kyrgyz Republic : Fiscal Sustainability Study World Bank DEBT RELIEF DEBT SUSTAINABILTY ENERGY SUBSIDIES FISCAL ADJUSTMENTS FISCAL SUSTAINABILITY MACROECONOMIC PLANNING MACROECONOMIC SHOCKS MACROECONOMIC STABILIZATION MARKET ECONOMY OUTPUTS PRIVATE SECTOR DEVELOPMENT PUBLIC INFRASTRUCTURE PUBLIC UTILITY REGULATION SOCIAL IMPLICATIONS STRUCTURAL REFORMS TAX REVENUES TAX SYSTEMS INDIRECT TAXATION VALUE ADDED TAXES EXCISE TAXES LOCAL TAXES DIRECT TAXATION PERSONAL INCOME TAX LAND TAXES UTILITIES TARIFFS EXTERNAL FINANCE ACCOUNTABILITY ACCOUNTING ADB ADMINISTRATIVE COSTS ADVERSE CONSEQUENCES AFFILIATES AGRICULTURE AUTONOMY BARRIERS TO ENTRY BENEFIT CHARGES BORROWING BUDGETARY SUPPORT CIVIL SERVICE COAL COMMERCIAL BANKS COMMERCIAL DEBT COMPETITIVENESS CONSUMERS CONSUMPTION LEVELS CREDITORS DEBT DEBT BURDEN DEBT OBLIGATIONS DEBT OUTSTANDING DEBT PROFILE DEBT REDUCTION DEBT RELIEF DEBT RESCHEDULING DEBT RESOLUTION DEBT SERVICE DEBT SERVICE BURDEN DEBT SUSTAINABILITY DEBTS DEFICIT REDUCTION DEVELOPMENT ASSISTANCE DISTORTED INCENTIVES ECONOMIC GROWTH ELECTRICITY EVASION EXCHANGE RATE EXCHANGE RATES EXCISE TAXES EXPENDITURES EXPORTS EXTERNAL DEBT EXTERNAL DEBT INDICATORS FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL SECTOR FISCAL DEFICITS FOREIGN BORROWING FOREIGN DEBT FUELS GOVERNMENT BUDGET CONSTRAINTS GOVERNMENT EXPENDITURES GROSS DOMESTIC PRODUCT GROWTH RATE HOUSING IMPORTS INCOME INCOME TAX INEFFICIENCY INFLATION INFLATION RATES LABOR PRODUCTIVITY LAND TAXES LEGISLATION LICENSES LIQUIDITY LOCAL TAXES LOW TARIFFS MACROECONOMIC STABILITY MONETARY POLICY OPEC OPERATING COSTS PAYMENT ARREARS PRESENT VALUE PRESENT VALUE OF DEBT PRICE INCREASES PRICE SUBSIDIES PRIVATE CONSUMPTION PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PRIVATIZATION PRODUCERS PROFITABILITY PROVISIONS PUBLIC COMPANIES PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC UTILITIES REAL GDP REAL INTEREST RATE RELATIVE VALUE RESOURCE USE REVENUE SOURCES SAVINGS SERVICE CAPACITY STATE PROPERTY STRUCTURAL ADJUSTMENT T-BILLS TAX TAX CREDITS TAX EFFORTS TAX EXEMPTIONS TAX RATES TAX REFORMS TAX REVENUES TAXATION TAXPAYERS TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TURNOVER TAXES UNEMPLOYMENT VALUE ADDED VALUE ADDED TAX VOTERS WORLD TRADE ORGANIZATION WTO The study reviews the macroeconomic developments in the Kyrgyz Republic following the collapse of the Soviet Union, when adjustments were required since output fell by fifty percent between 1991-95, resulting in adverse fiscal consequences, which triggered losses in tax revenues, along with the implicit end of energy subsidies. Part I examines the fiscal, and debt sustainability, proposing a three-fold strategy: a) efforts for an urgent renewal are needed to consolidate macroeconomic stability -- fundamentally, a significant fiscal adjustment is required; b) debt relief should be considered, given the large burden, and there is the need to preserve social expenditures; and c) decisive structural reforms are necessary to underpin fiscal adjustment, and increase the efficiency of resource uses. Part II examines the structural issues, particularly the tax system, and the role of the state in infrastructure and utilities, focusing on accelerating the transformation of public infrastructure and utility companies, and how to improve taxation. The report also emphasizes a transparent and targeted system in the provision of basic services to the poor, through reform policies and the inclusion of the private sector. 2013-06-19T20:19:02Z 2013-06-19T20:19:02Z 2001-12 http://documents.worldbank.org/curated/en/2001/12/1652162/kyrgyz-republic-fiscal-sustainability-study 0-8213-5051-X http://hdl.handle.net/10986/14031 English en_US A World Bank country study; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Publications & Research :: Publication Publications & Research :: Publication Europe and Central Asia Kyrgyz Republic
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic DEBT RELIEF
DEBT SUSTAINABILTY
ENERGY SUBSIDIES
FISCAL ADJUSTMENTS
FISCAL SUSTAINABILITY
MACROECONOMIC PLANNING
MACROECONOMIC SHOCKS
MACROECONOMIC STABILIZATION
MARKET ECONOMY
OUTPUTS
PRIVATE SECTOR DEVELOPMENT
PUBLIC INFRASTRUCTURE
PUBLIC UTILITY REGULATION
SOCIAL IMPLICATIONS
STRUCTURAL REFORMS
TAX REVENUES
TAX SYSTEMS
INDIRECT TAXATION
VALUE ADDED TAXES
EXCISE TAXES
LOCAL TAXES
DIRECT TAXATION
PERSONAL INCOME TAX
LAND TAXES
UTILITIES
TARIFFS
EXTERNAL FINANCE ACCOUNTABILITY
ACCOUNTING
ADB
ADMINISTRATIVE COSTS
ADVERSE CONSEQUENCES
AFFILIATES
AGRICULTURE
AUTONOMY
BARRIERS TO ENTRY
BENEFIT CHARGES
BORROWING
BUDGETARY SUPPORT
CIVIL SERVICE
COAL
COMMERCIAL BANKS
COMMERCIAL DEBT
COMPETITIVENESS
CONSUMERS
CONSUMPTION LEVELS
CREDITORS
DEBT
DEBT BURDEN
DEBT OBLIGATIONS
DEBT OUTSTANDING
DEBT PROFILE
DEBT REDUCTION
DEBT RELIEF
DEBT RESCHEDULING
DEBT RESOLUTION
DEBT SERVICE
DEBT SERVICE BURDEN
DEBT SUSTAINABILITY
DEBTS
DEFICIT REDUCTION
DEVELOPMENT ASSISTANCE
DISTORTED INCENTIVES
ECONOMIC GROWTH
ELECTRICITY
EVASION
EXCHANGE RATE
EXCHANGE RATES
EXCISE TAXES
EXPENDITURES
EXPORTS
EXTERNAL DEBT
EXTERNAL DEBT INDICATORS
FINANCIAL CRISIS
FINANCIAL MANAGEMENT
FINANCIAL SECTOR
FISCAL DEFICITS
FOREIGN BORROWING
FOREIGN DEBT
FUELS
GOVERNMENT BUDGET CONSTRAINTS
GOVERNMENT EXPENDITURES
GROSS DOMESTIC PRODUCT
GROWTH RATE
HOUSING
IMPORTS
INCOME
INCOME TAX
INEFFICIENCY
INFLATION
INFLATION RATES
LABOR PRODUCTIVITY
LAND TAXES
LEGISLATION
LICENSES
LIQUIDITY
LOCAL TAXES
LOW TARIFFS
MACROECONOMIC STABILITY
MONETARY POLICY
OPEC
OPERATING COSTS
PAYMENT ARREARS
PRESENT VALUE
PRESENT VALUE OF DEBT
PRICE INCREASES
PRICE SUBSIDIES
PRIVATE CONSUMPTION
PRIVATE SECTOR
PRIVATE SECTOR PARTICIPATION
PRIVATIZATION
PRODUCERS
PROFITABILITY
PROVISIONS
PUBLIC COMPANIES
PUBLIC INFRASTRUCTURE
PUBLIC INVESTMENT
PUBLIC SECTOR
PUBLIC UTILITIES
REAL GDP
REAL INTEREST RATE
RELATIVE VALUE
RESOURCE USE
REVENUE SOURCES
SAVINGS
SERVICE CAPACITY
STATE PROPERTY
STRUCTURAL ADJUSTMENT
T-BILLS
TAX
TAX CREDITS
TAX EFFORTS
TAX EXEMPTIONS
TAX RATES
TAX REFORMS
TAX REVENUES
TAXATION
TAXPAYERS
TELECOMMUNICATIONS
TRANSPARENCY
TRANSPORT
TURNOVER TAXES
UNEMPLOYMENT
VALUE ADDED
VALUE ADDED TAX
VOTERS
WORLD TRADE ORGANIZATION
WTO
spellingShingle DEBT RELIEF
DEBT SUSTAINABILTY
ENERGY SUBSIDIES
FISCAL ADJUSTMENTS
FISCAL SUSTAINABILITY
MACROECONOMIC PLANNING
MACROECONOMIC SHOCKS
MACROECONOMIC STABILIZATION
MARKET ECONOMY
OUTPUTS
PRIVATE SECTOR DEVELOPMENT
PUBLIC INFRASTRUCTURE
PUBLIC UTILITY REGULATION
SOCIAL IMPLICATIONS
STRUCTURAL REFORMS
TAX REVENUES
TAX SYSTEMS
INDIRECT TAXATION
VALUE ADDED TAXES
EXCISE TAXES
LOCAL TAXES
DIRECT TAXATION
PERSONAL INCOME TAX
LAND TAXES
UTILITIES
TARIFFS
EXTERNAL FINANCE ACCOUNTABILITY
ACCOUNTING
ADB
ADMINISTRATIVE COSTS
ADVERSE CONSEQUENCES
AFFILIATES
AGRICULTURE
AUTONOMY
BARRIERS TO ENTRY
BENEFIT CHARGES
BORROWING
BUDGETARY SUPPORT
CIVIL SERVICE
COAL
COMMERCIAL BANKS
COMMERCIAL DEBT
COMPETITIVENESS
CONSUMERS
CONSUMPTION LEVELS
CREDITORS
DEBT
DEBT BURDEN
DEBT OBLIGATIONS
DEBT OUTSTANDING
DEBT PROFILE
DEBT REDUCTION
DEBT RELIEF
DEBT RESCHEDULING
DEBT RESOLUTION
DEBT SERVICE
DEBT SERVICE BURDEN
DEBT SUSTAINABILITY
DEBTS
DEFICIT REDUCTION
DEVELOPMENT ASSISTANCE
DISTORTED INCENTIVES
ECONOMIC GROWTH
ELECTRICITY
EVASION
EXCHANGE RATE
EXCHANGE RATES
EXCISE TAXES
EXPENDITURES
EXPORTS
EXTERNAL DEBT
EXTERNAL DEBT INDICATORS
FINANCIAL CRISIS
FINANCIAL MANAGEMENT
FINANCIAL SECTOR
FISCAL DEFICITS
FOREIGN BORROWING
FOREIGN DEBT
FUELS
GOVERNMENT BUDGET CONSTRAINTS
GOVERNMENT EXPENDITURES
GROSS DOMESTIC PRODUCT
GROWTH RATE
HOUSING
IMPORTS
INCOME
INCOME TAX
INEFFICIENCY
INFLATION
INFLATION RATES
LABOR PRODUCTIVITY
LAND TAXES
LEGISLATION
LICENSES
LIQUIDITY
LOCAL TAXES
LOW TARIFFS
MACROECONOMIC STABILITY
MONETARY POLICY
OPEC
OPERATING COSTS
PAYMENT ARREARS
PRESENT VALUE
PRESENT VALUE OF DEBT
PRICE INCREASES
PRICE SUBSIDIES
PRIVATE CONSUMPTION
PRIVATE SECTOR
PRIVATE SECTOR PARTICIPATION
PRIVATIZATION
PRODUCERS
PROFITABILITY
PROVISIONS
PUBLIC COMPANIES
PUBLIC INFRASTRUCTURE
PUBLIC INVESTMENT
PUBLIC SECTOR
PUBLIC UTILITIES
REAL GDP
REAL INTEREST RATE
RELATIVE VALUE
RESOURCE USE
REVENUE SOURCES
SAVINGS
SERVICE CAPACITY
STATE PROPERTY
STRUCTURAL ADJUSTMENT
T-BILLS
TAX
TAX CREDITS
TAX EFFORTS
TAX EXEMPTIONS
TAX RATES
TAX REFORMS
TAX REVENUES
TAXATION
TAXPAYERS
TELECOMMUNICATIONS
TRANSPARENCY
TRANSPORT
TURNOVER TAXES
UNEMPLOYMENT
VALUE ADDED
VALUE ADDED TAX
VOTERS
WORLD TRADE ORGANIZATION
WTO
World Bank
Kyrgyz Republic : Fiscal Sustainability Study
geographic_facet Europe and Central Asia
Kyrgyz Republic
relation A World Bank country study;
description The study reviews the macroeconomic developments in the Kyrgyz Republic following the collapse of the Soviet Union, when adjustments were required since output fell by fifty percent between 1991-95, resulting in adverse fiscal consequences, which triggered losses in tax revenues, along with the implicit end of energy subsidies. Part I examines the fiscal, and debt sustainability, proposing a three-fold strategy: a) efforts for an urgent renewal are needed to consolidate macroeconomic stability -- fundamentally, a significant fiscal adjustment is required; b) debt relief should be considered, given the large burden, and there is the need to preserve social expenditures; and c) decisive structural reforms are necessary to underpin fiscal adjustment, and increase the efficiency of resource uses. Part II examines the structural issues, particularly the tax system, and the role of the state in infrastructure and utilities, focusing on accelerating the transformation of public infrastructure and utility companies, and how to improve taxation. The report also emphasizes a transparent and targeted system in the provision of basic services to the poor, through reform policies and the inclusion of the private sector.
format Publications & Research :: Publication
author World Bank
author_facet World Bank
author_sort World Bank
title Kyrgyz Republic : Fiscal Sustainability Study
title_short Kyrgyz Republic : Fiscal Sustainability Study
title_full Kyrgyz Republic : Fiscal Sustainability Study
title_fullStr Kyrgyz Republic : Fiscal Sustainability Study
title_full_unstemmed Kyrgyz Republic : Fiscal Sustainability Study
title_sort kyrgyz republic : fiscal sustainability study
publisher Washington, DC
publishDate 2013
url http://documents.worldbank.org/curated/en/2001/12/1652162/kyrgyz-republic-fiscal-sustainability-study
http://hdl.handle.net/10986/14031
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