Iskender Sharsheyev

Friday, January 17, 2025, 12:15 Economist Weighs In on the Mayor’s Plan to Raise Fares Bishkek’s mayor’s office has proposed doubling the cash fare on public transport from 20 to 40 soms. Economist Iskender Sharsheev explained to Vesti.kg whether the increase is justified under current economic conditions. “This move encourages a switch to cashless payments,” Sharsheev noted. “Handling paper money is costly—creating and maintaining infrastructure is expensive, and cash theft in the service sector can reach up to 20%. Encouraging people to go cashless can cut logistics costs, speed up the economy, and reduce paper consumption. Although there are some risks, they aren’t serious enough to abandon these innovations.” Sharsheev acknowledged that a higher fare could be painful for many passengers. However, he pointed out that most vendors at local markets already use electronic wallets, indicating that the shift to digital payments makes sense. The proposal to raise the fare to 40 soms...

Saturday, 04 January 2025, 18:05 “Kazakhstan’s economic position is very good” In a lengthy interview with the newspaper Ana Tili, President Kassym-Jomart Tokayev discussed Kazakhstan’s achievements throughout 2024. Economist Iskender Sharsheyev also spoke with Vesti.kg about Kazakhstan’s current economic standing and the republic’s potential for the upcoming year. “Kazakhstan experienced challenging times last year, including high inflation and rising prices,” Sharsheyev noted. “Despite that, the economy grew dynamically, in part due to re-export activities. Among Central Asian countries, Kazakhstan has one of the largest and most liberal economies. Because of this, the country’s external debt had dropped to $165.8 billion by October 2024. Kazakhstan is now well positioned to develop international markets, venture capital, investments, and trade relations. While the economy is seen as hydrocarbon-dependent, there are clear reasons for its growth and success—such as parallel imports...