Parliament of Kyrgyzstan passes bill on emergency situation in national economy

AKIPRESS.COM - The Parliament of Kyrgyzstan today has passed the bill on declaration of emergency situation in national economy in 3 readings.
81 MPs voted for adoption of the bill in 1st, 2nd and 3rd readings. Two MPs voted against. 83 MPs were registered in total.
Minister of Economy and Finances Akylbek Japarov explained emergency situation will be introduced in case of abrupt hike of prices and high poverty level.
Minister Japarov took a note of a difficult economic situation in the country and said the proposed bill will allow the Cabinet to introduce emergency situation in national economy and to dispose 20% of public budget revenues and expenditures without approval of the Parliament, to change tax rates, conditions of public procurements.
"We have developed this bill since the national economy is in a disastrous condition. I want to say unemployment is growing, shadow economy is growing, collection of taxes is declining amid coronavius pandemic. Tax receipts dropped drastically in connection with a significant reduction of taxes in alcohol industry though production has not fallen according to statistics," Minister Japarov said.