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Only 2 Percent Of Public Companies In Kyrgyzstan Are Really Active

Thursday, February 16, 2017 - 15:52

To date, the balance of the State Property Management Fund of Kyrgyzstan totals 1,130 state-owned enterprises; however, only 2.2 percent of them are actually working. These figures were presented during a departmental meeting on the 2016 results that was held on February 14.

 

“The National Statistical Committee provided similar information. The Justice Ministry informs that there are 535 such enterprises, the tax office gives the figure of 704, and the Social Fund mentions 485 enterprises. Everyone has different figures. Therefore, we have checked whether these companies are 'alive'. In the course of the checks, it turned out that only 166 companies operate at the present time, of which about 55 were merged in the process of optimization and conversion of the branches. 50 other companies were transferred to larger public institutions. In total, we have only about 25 state-owned enterprises,” Deputy Head of the Government of Kyrgyzstan Jyldyzbek Isakulov said.

 

According to deputy chairman of the State Property Management Fund Bekbolot Aliyev, last year the department received 3 billion 969.7 million soms from the state-owned companies of all, although the plan envisaged 5 billion 68 million soms. In his opinion, such a pattern has developed due to the fact that Kyrgyzstan's nationalized facilities do not bring the expected profits to the state budget, and there is also a shortfall in privatization revenues.

 

However, Bekbolot Aliyev also noted that in 2015 the Fund transferred about 3.6 billion soms to the national budget, of instead of the planned 3.5 billion soms.

 

According to the official data, Kyrgyzstan's budget surplus in 2015 was about 1.58 billion soms. In 2016, the state treasury had a deficit in the amount of 21.57 billion soms. As for 2017, the deficit of the Kyrgyz budget has been planned in the amount of not more than 23.3 billion soms.



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