In 2020, only 83% of public investment projects' funds were spent

In 2020, 15.7 billion soms (83%) of funds of public investment projects were spent against the plan of 18.6 billion soms. The amount of funds used was only 67% compared to the originally approved plan was only 67%.

Over the past six years, public investment funds have been poorly absorbed. Most of the untapped funds were in important sectors such as transport, energy, irrigation, water supply and health.

Prime Minister of the Kyrgyz Republic Ulukbek Maripov said this at a meeting to sum up the results of the implementation of public investment projects for 2020, the Government Press Office reports.

Rational and timely use of budgetary funds should become the main goal in planning the work of the government, Maripov said.

He called on the Ministry of Economy and Finance to better monitor and coordinate PIP projects. High-quality development of the project design at the initial stage is essential for its further implementation. In this regard, Ulukbek Maripov instructed to carefully develop new projects focusing on social and economic efficiency.

The state investment program is 1/5 of the expenditures of the state budget, which directly affects the development of the economy, Maripov said.