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    Kyrgyzstan

    Power Play: Kyrgyzstan's Leader Temporarily Freezes Cost of Electricity

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    Kyrgyz president Almazbek Atambayev made a statement that he is not going to raise electricity prices due to unstable economic situation in the country.

    BISHKEK (Sputnik) — Kyrgyzstan's electricity prices should not be increased while the country faces economic turbulence, Kyrgyz president Almazbek Atambayev said on Saturday.

    "In conditions of economic crisis, reviewing electricity tariffs for the population must be approached with great care and decisions must be taken following deep and thorough preparations. Electricity tariffs cannot be increased under current conditions," Atambayev said during a meeting with the head of the country's state agency on fuel and energy complex regulation.

    According to Kyrgyzstan's previously adopted electricity tariff plan, prices were set to rise 20 percent in 2016, with a simultaneous 20 percent rise in heating prices.

    The president advised Kyrgyzstan's electricity authorities to mobilize reserves and minimize inefficiencies in order to compensate for losses.

    In 2015, Kyrgyzstan was hit by Russia's recent downturn, as Russia is the Central Asian state's main trade partner and main source of foreign reserves. With remittances making up a significant portion of the country's GDP, remittances from Kyrgyz citizens working in Russian fell nearly 30 percent since mid-2015, according to the Kyrgyz National Bank.

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    Tags:
    tariffs, electricity, decline, energy, Almazbek Atambayev, Kyrgyzstan
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