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The report assesses fiscal policy stance, performance, and sustainability, including how fiscal policy affects cyclical macroeconomic volatility. It also reviews institutional arrangements for macroeconomic policy, government expenditure outcomes, program-based budgeting, and public investment management reforms. In addition, it evaluates tax policy and administration trends, their impacts on revenue performance, business conditions, and provides policy recommendations.","Report No. AUS0002107  \nKyrgyz Republic  \nDisclosure Authorized Public Disclosure Authorized Public Disclosure Authorized  \nPub lic Disclosure Author ized Public  \nPublic Expenditure Review  \nCreating fiscal space for inclusive growth  \nFebruary 2020  \nTHE KYRGYZ REPUBLIC  \nGOVERNMENT FISCAL YEAR  \nJanuary 1 – December 31  \nCURRENCY EQUIVALENTS  \n(Exchange Rate Effective as of January 31, 2021)  \nCurrency Unit: Kyrgyz Republic Som (KGS)  \nUS$1 .00 = KGS 84.80  \nRegional Vice President: Anna Bjerde  \nCountry Director: Lilia Burunciuc  \nRegional Director: Lalita Moorty  \nPractice Manager: Sandeep Mahajan  \nLead Economist: Ivailo Izvorski  \nTask Team Leaders: Appolenia Mbowe, Bakyt Dubashov, Ahya Ihsan  \nABBREVIATIONS AND ACRONYMS  \nAO  \nCAB  \nCADCAPEX CHP  \nCIS  \nCIT  \nCSO  \nDSA  \nLTGM  \nECA  \nEEU  \nEIA  \nEITI  \nFDI  \nFSU  \nGDP  \nGNI  \nHR HRMIS  \nICOR  \nIDA  \nIFC  \nIFI  \nIMF  \nILO  \nICOSOE  \nLIC  \nLMIC  \nMBLF  \nAiyl Okmotu  \nCyclically Adjusted Fiscal Balance Cyclically Adjusted Fiscal Deficit Capital Expenditure  \nCombined Heat and Power Plant Commonwealth of Independent States Corporate Income Tax  \nCivil Society Organization  \nDebt Sustainability Analysis Long-Term Growth Model Europe and Central Asia Eurasian Economic Union Environmental Impact Assessment Extractives Industry Transparency Initiative  \nForeign Direct Investment Former Soviet Union Gross Domestic Product  \nGross National Income Human Resources  \nHuman Resources Management Information System  \nIncremental Capital Output Ratio International Development Organization  \nInternational Finance Corporation International Financial Institution  \nInternational Monetary Fund  \nInternational Labour Organization Interdepartmental Commission for Optimization of the State-Owned Enterprises  \nLow-Income Country (World Bank classification)  \nLower Middle-Income Country (World Bank classification)  \nMonthly Benefit for Low-Income Families Program  \nMDAs  \nMoE  \nMoF  \nNBKR  \nNSC  \nOECD  \nOPEX  \nPBB  \nPEFA  \nPER  \nPFM  \nPIM  \nPIP  \nPISA  \nPIT  \nPPL  \nPV  \nQFA  \nQFD  \nRKDF  \nSFR  \nSOE  \nSME  \nTA  \nTV  \nTFP  \nVAT  \nWDI  \nWEO  \nMinistries, Departments, and Agencies  \nMinistry of the Economy  \nMinistry of Finance  \nNational Bank of the Kyrgyz Republic National Statistics Committee  \nOrganisation for Economic Co-operation and Development  \nOperating Expenses  \nProgram-Based Budgeting Public Expenditure and Financial Accountability  \nPublic Expenditure Review  \nPublic Financial Management  \nPublic Investment Management  \nPublic Investment Program Programme for International Student Assessment  \nPersonal Income Tax Public Procurement Law Present Value  \nQuasi-Fiscal Activity Quasi-Fiscal Deficit  \nRussian-Kyrgyz Development Fund  \nStatement of Fiscal Risks State-Owned Enterprise Small and Medium Enterprise Technical Assistance Taxable Value  \nTotal Factor Productivity Value-Added Tax  \nWorld Development Indicators  \nWorld Economic Outlook  \nTABLE OF CONTENTS  \nAcknowledgments .....................................................................................................................7  \nExecutive Summary ..................................................................................................................8  \n The Stance of Fiscal Policy .................................................................................. 18  \n Context ................................................................................................................................................ 18  \n Introduction ........................................................................................................................................ 18  \n Fiscal Policy Performance................................................................................................................. 19  \n The Sustainability of Fiscal Policy ................................................................................................... 23  \n The Impact of Fiscal Policy on Cyclical Macroeconomic ","cbCaih1n903EQ4lH","https://ap.wps.com/l/cbCaih1n903EQ4lH","pdf",2664162,5,1,153,"English","en",105,"# Acknowledgments\n# Executive Summary\n## The Stance of Fiscal Policy\n## Context\n## Introduction\n## Fiscal Policy Performance\n## The Sustainability of Fiscal Policy\n## The Impact of Fiscal Policy on Cyclical Macroeconomic Volatility\n## The Institutional Framework for Macroeconomic Policy in the Kyrgyz Republic\n## Recommendations\n# Government Expenditure Performance and Budget Reforms\n## Context\n## Introduction\n## Program-Based Budgeting and the Medium-Term Expenditure Framework\n## Public Investment Management Reforms\n## Recommendations\n# Tax Policy and Tax Administration\n## Context\n## Introduction\n## Trending in Tax Collection and Revenue Performance\n## Assessment of Tax Policies\n## Assessment of Tax Administration and the Impact of the Tax System on Doing Business\n## Policy Implications and Recommendations","[{\"question\":\"What is the main objective of the Public Expenditure Review for Kyrgyz Republic?\",\"answer\":\"To create fiscal space for inclusive growth by evaluating fiscal policy, public expenditure performance, budget reforms, and related policy measures.\"},{\"question\":\"How does the report assess fiscal policy?\",\"answer\":\"It examines the stance and performance of fiscal policy, its sustainability, and the impact of fiscal policy on cyclical macroeconomic volatility.\"},{\"question\":\"What areas of government reform are covered besides fiscal policy?\",\"answer\":\"It covers government expenditure performance and budget reforms, including program-based budgeting and medium-term expenditure frameworks, as well as public investment management reforms and 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