OREANDA-NEWS. March 02, 2012. Experts from the Eurasian Development Bank (EDB), which is the manager of the EurAsEC Anti-Crisis Fund (ACF), visited Bishkek to begin to prepare the Manager's Conclusion on Kyrgyzstan's application for a USD 106.7m financial credit from the ACF. The experts met with the Government and the National Bank of the Kyrgyz Republic, as well as with representatives of international organisations, to discuss the current macroeconomic and fiscal situation in the country, the main figures of its 2012 state budget, and the mid-term development plans, reported the press-centre of KASE.

"The economic situation is being stabilised. We see a steady recovery of economic activity and lower inflation and imbalance of foreign trade. Mid-term development plans and strategies have been developed. However, we believe that it is very important that a more clear mechanism should be developed to fulfil mid-term plans and ensure their coordination and integrity.

The projected expenditures for 2012 and the medium term, which are based on the Government's rather optimistic plan to increase budget revenues, are also of concern. In particular, when making these plans, the Government needs to take into account that the global economic situation can worsen and this should be backed by certain reserves to mitigate possible shocks. In the coming weeks, the Manager will continue discussion with the Government in order to finally determine the size of the credit and the list of reforms it will support," Sergey Shatalov, Deputy Chairman of the EDB Executive Board, said.