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Bishkek (AKIpress) - The IMF mission encouraged the Kyrgyz authorities to speed up the implementation of a broad range of reforms specified in the National Sustainable Development Strategy.
Fiscal consolidation supported by tax policy and administration reforms aimed at increasing tax revenues, as well as expenditure restructuring, will be essential to create additional fiscal space for social spending. The civil service reform would help to generate a modern public administration system with competitive salaries, IMF mission said in a statement following visit to Bishkek on May 6-16.
A stable and predictable investment climate with proper contract enforcement, strengthened property rights, and addressing perceived corruption are essential for attracting investment and spurring growth, the statement says.
Improving further the business environment and reforming the energy sector will enable the Kyrgyz Republic to increase its competiveness. The IMF stands ready to support the Kyrgyz Republic in its reform efforts and to continue the fruitful cooperation, the mission concluded.