Kyrgyzstan to strengthen efforts to curb shadow economy -- PM

Source: Xinhua| 2020-01-10 20:43:17|Editor: Shi Yinglun
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BISHKEK, Jan. 10 (Xinhua) -- The Kyrgyz government will step up efforts to curb the shadow economy in 2020, Kyrgyz Prime Minister Mukhammedkalyi Abylgaziev said Friday.

At a government meeting, Abylgaziev said automatic monitoring systems have already been deployed at the border checkpoints with Kazakhstan to check smuggled goods, the government's press service reported.

In addition, Abylgaziev said examination systems are being installed at the external border of the Eurasian Economic Union (EAEU), which allow vehicles to be scanned without opening the cargo compartments, and the measure is expected to speed up the customs process and reduce false declarations.

"Thus, we guarantee that the traceability system of goods will significantly increase state budget revenues, control importing goods from third countries, and most importantly, reduce the share of the shadow economy. And in the future, completely get rid of illegal business," said the prime minister.

Abylgaziev added that the Kyrgyz government will continue working to digitalize tax and customs procedures in 2020.

Data from different sources show that the shadow economy accounts for 24 to 37 percent of the gross domestic product of the Central Asian country.