BAKU, Azerbaijan, October 30. Kyrgyzstan has seen significant economic growth in recent years, driven by increased investment in infrastructure and external factors, said Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, at the International Monetary Fund (IMF) Caucasus and Central Asia media roundtable, Trend reports.
He noted that Kyrgyzstan has increased investment in infrastructure and stressed the importance of preserving macroeconomic stability to reduce the impact of global uncertainty on the local economy and lower vulnerabilities.
“One way is by preserving macroeconomic stability that could reduce any potential impact of the global uncertainty on the local economy and reduce the level of vulnerabilities,” Azour said.
Azour also underscored the imperative of bolstering fiscal
governance to guarantee that capital expenditures on infrastructure
are meticulously tracked and synergized with strategic reforms
aimed at enhancing yield and mitigating exposure to potential
risks.
“Optimizing regulatory frameworks and enhancing infrastructural
synergies would facilitate the realization of substantial capital
inflows in the sectors of energy, commerce, and transit, thereby
unlocking their maximum efficacy,” he added.
He deduced that capital allocation towards institutional
competencies and the enhancement of operational efficiency will
yield sustainable impacts on economic expansion and employment
generation within the region.
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