Kyrgyz Republic : Fiscal Sustainability Study

World Bank

Washington, DC

关键词: DEBT RELIEF;    DEBT SUSTAINABILTY;    ENERGY SUBSIDIES;    FISCAL ADJUSTMENTS;    FISCAL SUSTAINABILITY;   

DOI  :  10.1596/0-8213-5051-X
RP-ID  :  23404

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The study reviews the macroeconomicdevelopments in the Kyrgyz Republic following the collapseof the Soviet Union, when adjustments were required sinceoutput fell by fifty percent between 1991-95, resulting inadverse fiscal consequences, which triggered losses in taxrevenues, 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 urgentrenewal 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; andc) decisive structural reforms are necessary to underpinfiscal adjustment, and increase the efficiency of resourceuses. Part II examines the structural issues, particularlythe tax system, and the role of the state in infrastructureand utilities, focusing on accelerating the transformationof public infrastructure and utility companies, and how toimprove taxation. The report also emphasizes a transparentand targeted system in the provision of basic services tothe poor, through reform policies and the inclusion of theprivate sector.