Economy of Kyrgyzstan

Despite the backing of major Western lenders, including the International Monetary Fund (IMF), the World Bank and the Asian Development Bank, Kyrgyzstan has had economic difficulties following independence. Kyrgyzstan ranks as the second poorest country in Central Asia. Initially, these were a result of the breakup of the Soviet trading bloc and resulting loss of markets, which impeded the republic's transition to a free market economy.

The government has reduced expenditures, ended most price subsidies and introduced a value-added tax. Overall, the government appears committed to the transition to a market economy. Through economic stabilization and reform, the government seeks to establish a pattern of long-term consistent growth. Reforms led to Kyrgyzstan's accession to the World Trade Organization (WTO) on 20 December 1998.

The Kyrgyz economy was severely affected by the collapse of the Soviet Union and the resulting loss of its vast market. In 1990, some 98% of Kyrgyz exports went to other parts of the Soviet Union. Thus, the nation's economic performance in the early 1990s was worse than any other former Soviet republic except war-torn Armenia, Azerbaijan and Tajikistan, as factories and state farms collapsed with the disappearance of their traditional markets in the former Soviet Union. While economic performance has improved considerably in the last few years, and particularly since 1998, difficulties remain in securing adequate fiscal revenues and providing an adequate social safety net. According to Russia's Uralsib investment bank, around 800,000 Kyrgyz migrant workers are in Russia, making up 40% of the Central Asian state's GDP.[56] The return of up to 300,000 Kyrgyz labor migrants from Russia and Kazakhstan has the potential to trigger a wave social unrest

atlanta toyota service
dry mouth symptom