Kyrgyzstan targets 8% annual GDP growth, 20% FDI rise by 2030 - president

Photo: Press Service of the President of Kyrgyzstan

BAKU, Azerbaijan, October 22. Kyrgyzstan aims to ensure macroeconomic stability, achieve average real GDP growth of 8% a year and raise foreign direct investment inflows by 20% annually by the end of 2030, President Sadyr Japarov said at a national meeting of heads of state bodies in Bishkek on October 21, the presidential press service said.

Sadyr Japarov said policy would rest on five principles - the state acts as strategist and architect of reforms, private property is protected, family and children are at the center of social policy, law-abiding business enjoys state protection, and regions get jobs and opportunities for development.

He instructed the Cabinet of Ministers and central government bodies to draw up a model of export-oriented service-industrial development and, together with the judiciary, a unified concept for protecting private property and supporting entrepreneurs.

They are also to modernize trade and customs policy, simplify permits and investment agreements, redirect financing toward long-term projects in the real sector, adapt the education system and revise relations between central and local budgets.

The President added that the past five years have been a period of active restoration of state institutions, the creation of a solid foundation for economic development, and large-scale transformations across all spheres of public and cultural life.