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

doi:10.1596/24938

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

dc.contributor.author	World Bank Group
dc.date.accessioned	2016-08-25T17:19:35Z
dc.date.available	2016-08-25T17:19:35Z
dc.date.issued	2016-06-01
dc.description.abstract	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.	en
dc.identifier	http://documents.worldbank.org/curated/en/2016/07/26590904/kyrgyz-republic-policy-challenges-difficult-environment-special-focus-growing-burden-public-debt
dc.identifier.doi	10.1596/24938
dc.identifier.uri	https://hdl.handle.net/10986/24938
dc.language	English
dc.language.iso	en_US
dc.publisher	World Bank, Washington, DC
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo/
dc.subject	economic growth
dc.subject	economic outlook
dc.subject	debt burden
dc.subject	balance of payments
dc.subject	fiscal policy
dc.subject	public debt
dc.title	Kyrgyz Republic Economic Update, Spring 2016	en
dc.title.subtitle	Policy Challenges in a Difficult Environment	en
dc.type	Report	en
dc.type	Rapport	fr
dc.type	Informe	es
dspace.entity.type	Publication
okr.crossref.title	Kyrgyz Republic Economic Update, Spring 2016
okr.date.disclosure	2016-07-22
okr.doctype	Economic & Sector Work
okr.doctype	Economic & Sector Work::Economic Updates and Modeling
okr.docurl	http://documents.worldbank.org/curated/en/2016/07/26590904/kyrgyz-republic-policy-challenges-difficult-environment-special-focus-growing-burden-public-debt
okr.guid	957531474627000515
okr.guid	542451469184393506
okr.identifier.doi	10.1596/24938
okr.identifier.doi	https://doi.org/10.1596/24938
okr.identifier.externaldocumentum	090224b08447f84b_1_0
okr.identifier.internaldocumentum	26590904
okr.identifier.report	107178
okr.imported	true
okr.language.supported	en
okr.pdfurl	http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2016/07/22/090224b08447f84b/1_0/Rendered/PDF/Kyrgyz0Republi0rden0of0public0debt0.pdf	en
okr.topic	International Economics and Trade::External Debt
okr.topic	Macroeconomics and Economic Growth::Economic Forecasting
okr.topic	Macroeconomics and Economic Growth::Economic Growth
okr.topic	Macroeconomics and Economic Growth::Economic Modeling and Statistics
okr.topic	Macroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topic	Macroeconomics and Economic Growth::Macroeconomic Management
okr.unit	Macroeconomics and Fiscal Management (MFM) Global Practice