6 May 2010 16:47

Kyrgyzstan's new administration meets its foreign, domestic debt obligations

BISHKEK. May 6 (Interfax) - The Kyrgyz interim government has promised to fulfill all of its budget obligations.

"The revenues we expect to get will be enough to cover all expenditures on protected and unprotected budget items in May 2010," Temir Sariyev, deputy head of the country's interim government, told reporters.

Sariyev said that "the revenues of the Kyrgyz budget in May will reach 4.8 billion soms and the expenditures will reach 4.7 billion soms." "One hundred percent of the protected items will be financed," he said.

In May, the Kyrgyz government will begin financing the costs associated with the construction and repair of infrastructure and schools and highways, he said.

"In April, the government managed to meet all its obligations and 100% of its foreign and domestic debt obligations despite difficulties."

International financial institutions are ready to provide financial support to the Kyrgyz government, Sariyev said. "The Asian Development Bank is ready to provide $70 million to Kyrgyzstan. Of that money, $30 million will go to investment projects and $40 million will be used for budget protection," he said.

The World Bank and the IMF have expressed their readiness to increase financial assistance to Kyrgyzstan, he said. "We have to defend democracy. It's expensive," Sariyev said.

The Kyrgyz government plans to start working on the 2011 budget in the near future, he said.