[{"bbox": [95, 147, 1128, 914], "category": "Table", "text": "<table><tr><td>Unemployment rate (if available)</td><td>5.8</td><td>5.3</td><td>4.9</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Investment (Accumulation) (% GDP)</td><td>18.7</td><td>16.8</td><td>25.6</td><td>26.6</td><td>-</td><td>-</td></tr><tr><td>Foreign Direct Investments (% GDP)</td><td>-7.0</td><td>6.1</td><td>4.4</td><td>4.2</td><td>4.6</td><td>4.7</td></tr><tr><td>Total revenue (% GDP)</td><td>29.0</td><td>31.4</td><td>36.5</td><td>38.5</td><td>36.0</td><td>35.2</td></tr><tr><td>- Tax revenue (% GDP)</td><td>16.4</td><td>18.9</td><td>23.4</td><td>25.5</td><td>25.2</td><td>24.6</td></tr><tr><td>- Non-tax revenue (%GDP)</td><td>12.6</td><td>12.5</td><td>13.1</td><td>13.0</td><td>10.8</td><td>10.6</td></tr><tr><td>- Oil revenue (if relevant)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total expenditures (% GDP)</td><td>32.1</td><td>32.1</td><td>36.8</td><td>38.4</td><td>37.7</td><td>36.9</td></tr><tr><td>Operating expenditures (% GDP)</td><td>28.2</td><td>26.1</td><td>27.8</td><td>30.3</td><td>29.3</td><td>29.1</td></tr><tr><td>- primary expenditures</td><td>27.2</td><td>25.4</td><td>26.7</td><td>29.3</td><td>28.2</td><td>28</td></tr><tr><td>- interest payments</td><td>1.0</td><td>0.7</td><td>1.1</td><td>1.0</td><td>1.1</td><td>1.1</td></tr><tr><td>- social transfers (if relevant)</td><td>10.3</td><td>9.2</td><td>10.2</td><td>11.1</td><td>11.2</td><td>11.1</td></tr><tr><td>Capital expenditures (% GDP)</td><td>3.9</td><td>6.0</td><td>9.0</td><td>8.1</td><td>8.4</td><td>7.8</td></tr><tr><td>Net lending/borrowing (% GDP)</td><td>-3.1</td><td>-0.7</td><td>-0.3</td><td>0.1</td><td>-1.7</td><td>-1.7</td></tr><tr><td>Gross debt (% GDP)</td><td>63.6</td><td>56.2</td><td>49.2</td><td>46.9</td><td>44.3</td><td>42.7</td></tr><tr><td>Domestic Debt (% GDP)</td><td>9.2</td><td>9.5</td><td>9.7</td><td>9.8</td><td>10.0</td><td>10.2</td></tr><tr><td>External debt or debt in foreign currencies (% GDP)</td><td>54.4</td><td>46.7</td><td>39.5</td><td>37.1</td><td>34.3</td><td>32.5</td></tr><tr><td>DSA rating (if available)</td><td colspan=\"6\">rating remains sustainable and at moderate risk</td></tr><tr><td>Exports (% change)</td><td>-21.8</td><td>35.1</td><td>8.0</td><td>87.2</td><td>43.9</td><td>6.4</td></tr><tr><td>Current account balance (% GDP)</td><td>4.5</td><td>-8.0</td><td>-43.6</td><td>-31.8</td><td>-9.7</td><td>-7.9</td></tr><tr><td>Reserve coverage (months of imports)</td><td>5.3</td><td>3.2</td><td>2.6</td><td>2.8</td><td>2.4</td><td>2.1</td></tr><tr><td>Remittances (% GDP)</td><td>26.1</td><td>26.6</td><td>16.8</td><td>16.4</td><td>-</td><td>-</td></tr></table>"}, {"bbox": [108, 923, 1065, 945], "category": "Text", "text": "Source: IMF Article IV Mission (December 2023), IMF Article IV Report (March 2023), National StatCom, National Bank, WB"}, {"bbox": [95, 954, 1132, 1141], "category": "Text", "text": "The Digitalisation of tax administration and the opening of public access to income and asset declarations by government officials were important steps in this regard. However, asset declaration access should be broadened, verification of declared information should be strengthened, and the triggers for investigation and prosecution for illicit enrichment established. The President approved an amendment to the public procurement law in July 2023. The new procurement legislation limits competitive bidding for certain types of procurement. On the other hand, it foresees simplification of public procurement procedures (new rules for evaluation of tenders, shortened times until the award, stronger oversight through public procurement committees and other measures)."}, {"bbox": [95, 1165, 1132, 1431], "category": "Text", "text": "The IMF maintains close engagement with the Kyrgyz Republic in the context of surveillance and provision of capacity development. The latest Article IV consultation was concluded in December 2023 and the next consultation will be held in November 2024. Between March and May 2020, the IMF approved emergency financing of USD 240 million under the Rapid Financing Instrument and Rapid Credit Facility. In the years prior to 2019, the country received eight consecutive IMF-funded programmes, with the last ending in April 2018. The country has benefited from the Fund's technical assistance in areas related to public finance management, tax policy and administration, the monetary policy framework, financial sector regulation and supervision, national accounts, balance of payments and fiscal statistics. Presently, the IMF's Regional Capacity Development Center for Caucasus, Central Asia, and Mongolia has been established in Almaty (Kazakhstan), where the EU is one of the contributors from the regional financial envelope."}, {"bbox": [95, 1457, 1097, 1508], "category": "Text", "text": "In conclusion, the authorities are pursuing a stability-oriented macroeconomic policy and the eligibility criterion is met."}, {"bbox": [85, 1525, 412, 1552], "category": "Section-header", "text": "### 2.3.4 Public Financial Management"}, {"bbox": [95, 1566, 1132, 1620], "category": "Text", "text": "The Strategy for the Development of Public Finance Management for 2017-2025 was adopted by the Government on the 22nd December 2016 (Govt. Decision N°. 696). The goal of the PFM Strategy is to ensure that a modern,"}, {"bbox": [1026, 1681, 1143, 1705], "category": "Page-footer", "text": "Page 10 of 34"}]