According to National Bank Chairman Almaz Baketaev, Kyrgyzstan's economic position has a fundamental basis rather than a temporary dependence on external factors. He stressed that although the country is closely tied to Russia, it cannot consider Russia the main engine of its economic success.
Impact of sanctions and external factors
Despite the fact that Kyrgyzstan is a member of the Moscow-led Eurasian Economic Union, Almaz Baketaev noted that Russia and Kyrgyzstan remain partners. He also pointed to the close cultural and economic interconnection, including the work of a large number of Kyrgyz migrants in Russia and Kyrgyzstan's dependence on supplies of Russian fuel and grain.
However, the head of the National Bank of Kyrgyzstan emphasized that sanctions against Russia provided an additional economic boost for Kyrgyzstan. According to him, this led to increased cross-border movement of goods and an additional inflow of funds into the country.
Basis of economic growth
The National Bank chairman also assured that the Kyrgyz authorities comply with international rules, including controls on trade in dual-use goods.
- EAEU membership
- 1
- cultural link
- close
- dependence on supplies of goods from Russia
- dependence
Context
Almaz Baketaev is the chairman of the National Bank of Kyrgyzstan. The National Bank of Kyrgyzstan was founded in 1991 and is based in Bishkek.
