Annual shadow economy rates in Kyrgyzstan reach 60 billion soms, which is half as much as the state budget, the Prime Minister of Kyrgyzstan, Igor Chudinov, said at the official meeting with the president, government members, donors and business-associations in Bishkek on Monday, November 24, 2008.
Legalization of these funds will help Kyrgyzstan to handle the world financial crisis. Capital and property amnesty is one of the clue issues in this regard.
The President, Kurmanbek Bakiev, agrees with the premier and believes that this measure is the first step to property rights’ protection improvement.
“It will finally consolidate privatization achievements and reduce shady economy in Kyrgyzstan. The decision on property rights protection and capital amnesty will be drawn in the nearest days. Government should work out the relevant drafts by the end of 2008,” the president said.
