MOSCOW (Pakistan Point News / Sputnik - 24th October, 2020) Kyrgyzstan expects a budget deficit of up to $450 million by the end of the year due to the pandemic and post-election turbulence, newly-appointed Foreign Minister Ruslan Kazakbaev told Sputnik.
"Due to the coronavirus infection and certain political crisis ... by the end of the year we expect a budget deficit of 35 billion to 45 billion som - this is in som [national currency], and in Dollars this is $400-450 million. This is certainly a very significant amount for Kyrgyzstan," Kazakbaev said.
The Central Asian nation plunged into mass protests after several political parties failed to make it into the parliament in the October 4 elections and challenged the official results. Mobs of protesters stormed key government buildings, setting in motion a cascade of political change.
The authorities finally annulled the election outcome. Prime Minister Kubatbek Boronov and President Sooronbay Jeenbekov stepped down. Newly-appointed Prime Minister Sadyr Japarov has taken over presidential powers until after a snap election, which is scheduled for January 10.
