The EDB provides technical assistance to the Ministry of Finance of the Kyrgyz Republic to assess the impact of fiscal policy on economic growth

22 December 2020

Moscow, 22 December 2020. The Eurasian Development Bank (EDB) presented the results of its study entitled Assessing the Impact of Fiscal Policy on Economic Growth in the EDB Member States. The study was carried out per request of  the Ministry of Finance of the Kyrgyz Republic and financed by the EDB Technical Assistance Fund.

The key objective of the research was to develop recommendations on how to strengthen the country’s fiscal capacity.

The resulting multiplier estimates, according to the EDB analysts, would help the authorities to improve fiscal policy development in terms of planning and forecasting its impact on economic activity. The research includes recommendations on the optimal tax burden on the economy and suggestions on how to broaden the tax base and improve tax administration and budget planning. 

The EDB provides technical assistance to expand the Bank’s investment activities, including through cross-country, country, sectoral and innovative research aimed at promoting economic growth, the establishment and development of market economies in the member countries, and the expansion of trade and economic ties among them.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 by Russia and Kazakhstan and is headquartered in Almaty. Transport infrastructure, energy, chemical, mining, and mechanical engineering projects with a high integration effect account for the main part of the EDB’s portfolio. 

The Eurasian Fund for Stabilization and Development (EFSD) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of the same six countries. The EFSD assists its member states in overcoming the consequences of the global financial crisis, ensuring their economic and financial stability, and fostering integration in the region. The EFSD member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the EFSD Resources Manager.

The EDB Technical Assistance Fund is a flexible instrument that makes it possible for the Bank to quickly respond to the current development needs and challenges in its member states. The Fund strives to operate in line with global best practices and international standards of corporate governance.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

pressa@eabr.org

www.eabr.org

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2021