Tuesday, 02 January 2024 12:17 GMT

President Of Kyrgyzstan Shares Key Updates On Energy Sector Reforms


(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, November 10. Kyrgyzstan is taking steps to reduce the national energy debt and achieve long-term energy self-sufficiency, President Sadyr Zhaparov wrote on his social media, Trend reports.

Zhaparov highlighted the achievements of his administration in stabilizing the energy sector.“Before 2020, the energy system's debt amounted to 137 billion soms ($1.5 billion). Thanks to reforms and the elimination of corruption, we have reduced it to 25 billion soms ($285.8 million). With God's help, next year we will be debt-free, and by 2027, our energy system will start generating profit for the first time in history,” he said.

The president urged citizens to conserve electricity, noting that the water volume in Toktogul Reservoir is currently two billion cubic meters lower than last year.“Each extra kilowatt-hour costs the state more money, your money. Please use electricity economically,” he added.

On national debt, Zhaparov reported that over 285 billion soms ($3.3 billion) have been allocated to repay the state debt from 2020 through 2025, including 170.5 billion soms ($1.9 billion) in external debt and 114.9 billion soms ($1.4 billion) in domestic debt.“We expect to eliminate external debt completely by 2035 without difficulty,” he said, stressing that economic growth and large-scale investment projects, such as the Kambar-Ata hydroelectric power station and the China-Kyrgyzstan-Uzbekistan railway, will support this goal.

He also encouraged public understanding amid temporary energy shortages and called for continued reforms and vigilance in electricity use.

MENAFN10112025000187011040ID1110319742



Trend News Agency

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Search