BISHKEK/JULY 28 2021 (The Bulletin) — — Citing Kyrgyzstan’s worsening economic outlook, economy minister Akylbek Japarov said that he wanted emergency powers for three months that would bypass Parliament and allow the government to raise extra cash for its budget by giving it more rights to fine companies and more oversight over customs and licensing regulations.
Observers, though, said that the proposals would damage Kyrgyzstan’s already tarnished repuation as a place to do business, – dented by rising unemployment linked to the pandemic, a coup last year and the expropriation of the Kumtor gold mine from its Canadian owners.
Mr Japarov, who led an investigation into environmental damage at Kumtor in May that triggered a $3.1b fine and the expropriation of the mine, said that the emergency powers were needed to give the government more flexibility.
“We will be able to take preventive measures to improve the economic situation before people become discontent and start to protest,” he said.
“We suggest that in special cases decisions can be made with subsequent changes and additions and that 10% additions can be added to the revenue and expenditure side of the
budget.”
Commenting on the proposed emergency budget laws, Robin Ord Smith, Kyrgyzstan’s Business
Ombudsman, said that the laws were being rushed through without proper scrutiny.
“Our initial assessment of this draft legislation identifies some potential issues that could have a
negative impact on business entities and economic recovery,” he said.
ENDS
— This story was published in issue 494 of the Central Asia & South Caucasus Bulletin, on July 29 2021
— Copyright the Central Asia & South Caucasus Bulletin 2021
