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KYRGYZSTAN ECONOMIC RESEARCH
Kyrgyzstan General Economic GuideThis Section is contributed by Kazkommerts Securities
September 1998
Among the newly independent states of the former Soviet Union, the Kyrgyz Republic has been a leader in the area of economic reform.
Kyrgyzstan was the first Central Asian country to introduce a national currency – the Som.
Many international financial institutions rank Kyrgyzstan as the most reformed country in the CIS.
The existing stable, market-oriented legal framework protects the rights of foreign investors and provides them a non-discriminatory regime.
The Kyrgyz Repblic is the first CIS country to obtain full membership with the World Trade Organisation (WTO); the full accession is scheduled for September 1998.
Undergoing reform in the civil service and the political system involves changes in the structure of all branches of power: executive, legislative and judicial.
A major result of structural reforms has been macroeconomic stabilisation. To this end, the country enjoys one of the lowest inflation levels among the CIS countries.
The privatisation of small retail establishments in trade, public catering, and service is finished, thus placing the country on the top in comparison with other transition economies. The private sector’s share is as high as 64%.
| © Kazkommerts Securities 1998.
Please cite source when quoting. This report has been prepared by Kazkommerts Securities and provided solely for information purposes to recipients only. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. This information does not constitute an offer to buy or sell securities. Kazkommerts Securities or its affiliated persons may be buying, selling or holding long or short positions, acting as investment bankers, be represented on the Board of the issuers in securities mentioned herein. This report is not intended for the use of private investors. Investment in Kazakhstan markets is an extremely risky activity and many persons, physical and legal, may be completely or partially restricted from dealing in the Kazakhstan securities markets. |
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