Kyrgyz Republic : Gold is Not Enough

A new coalition government was formed in September 2012 following the collapse of the previous government at the end of August 2012. The Kyrgyz economy experienced a significant decline during the first half of 2012 caused by disrupted operations a...

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Bibliographic Details
Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ACCESS TO FINANCE AGGREGATE DEMAND AGRICULTURAL SECTOR AGRICULTURE BALANCE OF PAYMENTS BANK PRIVATIZATION BANKING SECTOR BANKING SYSTEM BARRIERS TO INVESTMENT BENCHMARKS BROAD MONEY BUDGET DEFICIT BUSINESS ACTIVITY BUSINESS COMMUNITY BUSINESS ENVIRONMENT CAPITAL ACCOUNT CAPITAL EXPENDITURES CAPITAL INFLOW CENTRAL BANK COMMODITY COMMODITY PRICE COMPETITIVENESS CORRUPTION CREDIT FACILITY CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT EXPENDITURES DEBT DEBT BURDEN DEBT CRISIS DEBT OUTSTANDING DEBT RELIEF DEBT SERVICE DEFLATION DEMOCRATIC INSTITUTIONS DEMOGRAPHIC DOMESTIC INFLATION DOMESTIC PRICES EARNINGS ECONOMIC ACTIVITY ECONOMIC DEVELOPMENTS ECONOMIC DOWNTURN ECONOMIC GROWTH ECONOMIC POLICY EDUCATIONAL ATTAINMENT EMPLOYER ENROLLMENT ENTREPRENEURIAL ACTIVITY EQUITY CAPITAL EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXCHANGE RATE REGIME EXPANSIONARY FISCAL POLICY EXPENDITURE EXPORT GROWTH EXPORT MARKETS EXPORTER EXTERNAL BORROWING EXTERNAL SHOCKS EXTREME POVERTY FAMILIES FINANCIAL MANAGEMENT FINANCIAL SECTOR FINANCING SOURCES FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICY FLOATING EXCHANGE RATE FOOD PRICE FORECASTS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET GDP GDP PER CAPITA GLOBAL ECONOMY GOVERNMENT ACCOUNTS GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GROWTH RATE HOUSEHOLD INVESTMENTS HOUSEHOLDS INCOME INFLATION INFLATION RATE INFRASTRUCTURE INVESTMENT INTEREST RATE INTERNATIONAL RESERVES INVESTMENT CLIMATE INVESTOR CONFIDENCE LABOR MARKET LIQUIDITY LOAN LOAN AGREEMENT LOCAL GOVERNMENTS MONETARY POLICY MONEY SUPPLY NATIONAL BANK NATURAL RESOURCES NET EXPORTS OUTPUT PENSION PENSION REFORM POLITICAL DISTURBANCES POLITICAL STABILITY POLITICAL UNREST PORTFOLIO PORTFOLIO INVESTMENT PRESENT VALUE PRICE INCREASES PRIVATE INVESTMENTS PRIVATE SAVINGS PRIVATIZATION PRODUCTION INCREASES PRODUCTIVITY PUBLIC DEBT PUBLIC FINANCE PUBLIC INVESTMENT PUBLIC PENSION PUBLIC SECTOR DEBT REAL EXCHANGE RATE REAL GDP REFORM PROGRAM REGULATORY FRAMEWORK REMITTANCE REPLACEMENT RATES RESERVE RETAINED EARNINGS RETURN RISK OF DEBT SAVINGS SEIZURE SELF-EMPLOYMENT SHADOW ECONOMY SMALL BUSINESS SOCIAL FUND SOCIAL PROTECTION SOURCE OF INCOME SOVEREIGN DEBT SUPPLY SHOCK TAX TAX REVENUES TOTAL REVENUE TRADE BALANCE TRADE DEFICIT TRADING TRANCHE TRANSPARENCY TRANSPORT UNEMPLOYMENT UNEMPLOYMENT RATE URBAN AREAS VALUE ADDED VOLATILITY WAGES WORLD MARKETS
Online Access:	http://documents.worldbank.org/curated/en/520721468278107200/Kyrgyz-Republic-Gold-is-not-enough http://hdl.handle.net/10986/26661

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Summary:	A new coalition government was formed in September 2012 following the collapse of the previous government at the end of August 2012. The Kyrgyz economy experienced a significant decline during the first half of 2012 caused by disrupted operations at the Kumtor gold mine. A decline in gold exports combined with a higher level of imports has increased the current account deficit. Expansionary fiscal policy during the first half of the year along with revenue weakness during the remainder of the year will widen the fiscal deficit to 6.1 percent of gross domestic product (GDP) in 2012 from 4.8 percent of GDP a year ago. The medium-term growth outlook is favorable although there are significant downside risks. There are also exogenous shocks that will need to be mitigated, including rising food prices, spillover effects from the Euro zone sovereign debt crisis, and a weak global economy.

Kyrgyz Republic : Gold is Not Enough

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