Kyrgyz Republic Economic Update, Spring 2016 : Policy Challenges in a Difficult Environment

Kyrgyz Republic Economic Update, Spring 2016 : Policy Challenges in a Difficult Environment

The Kyrgyz economy has remained resilient in the face of continued significant external head winds in 2015, but sources of vulnerability have increased.While overall Gross Domestic Product (GDP)growth is estimated to have slowed to 3.5 percent in 2...

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Main Author: World Bank Group
Format: Report
Language:English
en_US
Published: World Bank, Washington, DC 2016
Subjects:
economic growth
economic outlook
debt burden
balance of payments
fiscal policy
public debt
Online Access:http://documents.worldbank.org/curated/en/2016/07/26590904/kyrgyz-republic-policy-challenges-difficult-environment-special-focus-growing-burden-public-debt
http://hdl.handle.net/10986/24938
id okr-10986-24938
recordtype oai_dc
spelling okr-10986-249382021-05-25T08:50:52Z Kyrgyz Republic Economic Update, Spring 2016 : Policy Challenges in a Difficult Environment World Bank Group economic growth economic outlook debt burden balance of payments fiscal policy public debt The Kyrgyz economy has remained resilient in the face of continued significant external head winds in 2015, but sources of vulnerability have increased.While overall Gross Domestic Product (GDP)growth is estimated to have slowed to 3.5 percent in 2015, this deceleration was mostly on accountof lower gold production. Non-gold output growth remained robust at 4.5 percent (essentiallyunchanged from 2014), although with significant shifts in drivers. The policy stance was broadly appropriate.Looking forward to 2016 and beyond, economic activity is expected to slow down,with significant downside risks.With gold production expected to decline in coming years, andagricultural output growth returning to historical averages, overall growth is projected to moderate to 3.4 percent and 3.1 percent in 2016 and 2017 respectively. For public policy, the main challenge will be to reconcile the objective of supporting economic activity with principles of prudent management.Indeed, while the Kyrgyz Republic’s debt path remains sustainable, there are good reasons to be concerned over risks of debt distress. The Special Focus section of this Economic Update analyzes the features of the Kyrgyz Republic’s public debt and explains the factors behindthe recent deterioration of the debt sustainability outlook. It concludes by pointing out some of the policy steps that ought to be taken in response. 2016-08-25T17:19:35Z 2016-08-25T17:19:35Z 2016-06-01 Report http://documents.worldbank.org/curated/en/2016/07/26590904/kyrgyz-republic-policy-challenges-difficult-environment-special-focus-growing-burden-public-debt http://hdl.handle.net/10986/24938 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling
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 economic growth
economic outlook
debt burden
balance of payments
fiscal policy
public debt
spellingShingle economic growth
economic outlook
debt burden
balance of payments
fiscal policy
public debt
World Bank Group
Kyrgyz Republic Economic Update, Spring 2016 : Policy Challenges in a Difficult Environment
description The Kyrgyz economy has remained resilient in the face of continued significant external head winds in 2015, but sources of vulnerability have increased.While overall Gross Domestic Product (GDP)growth is estimated to have slowed to 3.5 percent in 2015, this deceleration was mostly on accountof lower gold production. Non-gold output growth remained robust at 4.5 percent (essentiallyunchanged from 2014), although with significant shifts in drivers. The policy stance was broadly appropriate.Looking forward to 2016 and beyond, economic activity is expected to slow down,with significant downside risks.With gold production expected to decline in coming years, andagricultural output growth returning to historical averages, overall growth is projected to moderate to 3.4 percent and 3.1 percent in 2016 and 2017 respectively. For public policy, the main challenge will be to reconcile the objective of supporting economic activity with principles of prudent management.Indeed, while the Kyrgyz Republic’s debt path remains sustainable, there are good reasons to be concerned over risks of debt distress. The Special Focus section of this Economic Update analyzes the features of the Kyrgyz Republic’s public debt and explains the factors behindthe recent deterioration of the debt sustainability outlook. It concludes by pointing out some of the policy steps that ought to be taken in response.
format Report
author World Bank Group
author_facet World Bank Group
author_sort World Bank Group
title Kyrgyz Republic Economic Update, Spring 2016 : Policy Challenges in a Difficult Environment
title_short Kyrgyz Republic Economic Update, Spring 2016 : Policy Challenges in a Difficult Environment
title_full Kyrgyz Republic Economic Update, Spring 2016 : Policy Challenges in a Difficult Environment
title_fullStr Kyrgyz Republic Economic Update, Spring 2016 : Policy Challenges in a Difficult Environment
title_full_unstemmed Kyrgyz Republic Economic Update, Spring 2016 : Policy Challenges in a Difficult Environment
title_sort kyrgyz republic economic update, spring 2016 : policy challenges in a difficult environment
publisher World Bank, Washington, DC
publishDate 2016
url http://documents.worldbank.org/curated/en/2016/07/26590904/kyrgyz-republic-policy-challenges-difficult-environment-special-focus-growing-burden-public-debt
http://hdl.handle.net/10986/24938
_version_ 1764457949920493568

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