Iskender Sharsheyev

Thursday, February 20, 2025, 17:22 "Depending on how these bloggers are monetized" In neighboring Kazakhstan, bloggers are subject to taxation. According to government agencies, many lead a luxurious lifestyle while often failing to pay taxes on their income, resulting in billions of tenge in unpaid tax obligations. Economist Iskender Sharsheev explained to Vesti.kg whether similar taxes should be imposed on bloggers in Kyrgyzstan. “Taxation depends on how these bloggers are monetized. If we talk about income from external platforms like TikTok and YouTube, the earnings are relatively small. It’s hard to live lavishly unless you have diamond play buttons. But in my opinion, such achievements should be a source of pride and support, not taxation,” Sharsheev stated. On the other hand, advertising contracts present a different situation, the expert explained. “If bloggers engage in advertising activities, the existence of a contract necessitates registration as an individu...

The conflict between Russia and Ukraine has significantly impacted Kyrgyzstan’s economy, given its strong ties to the Russian market through trade, labor migration, and financial flows. In the initial months of the conflict, the weakening Russian ruble led to a decline in remittances from labor migrants, which constitute a substantial portion of Kyrgyzstan’s GDP. Sanctions and disruptions in transportation corridors also strained logistics, particularly in the import sector. However, some sectors experienced growth. Kyrgyzstan’s role in foreign trade with Russia expanded, boosting trade volumes and increasing budget revenues from customs duties and taxes. Today, U.S. President Donald Trump and Russian President Vladimir Putin are holding key talks. Experts shared with Akchabar their perspectives on the potential outcomes for Kyrgyzstan and the regional economy. Economist Iskender Sharsheev suggests that, in the short term, changes in sanctions policies could both ease and complic...

Monday, February 17, 2025, 15:12 At the same time, Kyrgyzstan has become one of the leaders in the Eurasian Economic Union (EAEU) in terms of new housing construction. According to data from the Eurasian Economic Commission, Kyrgyzstan and Kazakhstan led the EAEU in new housing construction from January to November 2024. Specifically, Kazakhstan recorded 16,317.2 thousand square meters of new housing, reflecting an 8.3% increase compared to the same period in 2023. Kyrgyzstan followed with 1,134.6 thousand square meters, marking a 7.1% growth. Russia and Armenia ranked third and fourth with 93,841.8 thousand square meters (+2.1%) and 928.9 thousand square meters (+1.9%), respectively. Belarus reported 3,304.3 thousand square meters (+0.4%). Regarding the growth rate of completed construction works in the EAEU, Kyrgyzstan secured first place with a 31.1% increase (+27.6% in 2023), followed by Kazakhstan (+10.2%), Belarus (+7.8%), Armenia (+3.3%), and Russia (+2.2%). “We must reco...

Expert: Potato Prices Have Reached 250 Soms per Kilogram Tuesday, 04 February 2025, 14:12 The vegetable harvest is also threatened by late blight. Potato prices in Kyrgyzstan are rising rapidly, reportedly due to higher costs in Kazakhstan, where Kyrgyz producers export their crops. In response, the Cabinet of Ministers is proposing a temporary ban on potato exports. Economist Iskender Sharsheev spoke to Vesti.kg about whether prices could reach 100 soms per kilogram. “This is not the first time we’ve seen such a situation. There were days when fresh potatoes, straight from the fields, were sold for 209–250 soms per kilo. Typically, every spring, the price hits 80–90 soms—that pattern has held for the last three years. As the first harvest ripens through mid-summer, prices fall, sometimes as low as 5 soms per kilo. There’s nothing surprising about this,” he said. Any move to limit exports would affect local businesses, Sharsheev warned. “It’s not desirable to impose restriction...

Large-scale feasts, weddings with hundreds of guests, and the slaughtering of dozens of heads of livestock for memorials have long become a taken-for-granted practice. However, behind the external splendor lies a serious socio-economic problem that weighs heavily on the shoulders of many families. The country's authorities are trying to find a solution, and a new draft law, brought forward for public discussion, is the latest attempt to limit excessive spending. But how effective will such measures be? What Does the Draft Law Propose? The draft law titled "On Limiting Extravagance in the Conduct of Rituals, Celebrations, and Traditions in the Kyrgyz Republic" proposes to introduce clear restrictions on the organization of such events. For example, at weddings ("Үйлөнүү той"), it will be allowed to slaughter no more than one head of large livestock or one horse, and the number of guests should not exceed 250 people. In the case of "Кыз узатуу" (a tr...

Friday, January 31, 2025 15:26 How the National Bank’s Money Printing Could Trigger Hyperinflation in Kyrgyzstan Recently, the Zhogorku Kenesh proposed that the National Bank transfer its profits to the state budget and print more money. However, the ease with which this proposal was voiced raises serious concerns about the potential for hyperinflation—an uncontrollable surge in prices accompanied by a rapid depreciation of the national currency due to an oversupply in the market. Economist Iskender Sharsheev warned Vesti.kg of the risks involved: “Perhaps it’s time for us to study what happened in the Weimar Republic, Zimbabwe, and even Turkey in recent years. In those cases, officials claimed there was no problem with money because they could simply print more. Even the US, which has increased its money supply by an amount equal to 20% of its entire historical total over the past five years, relies on state guarantees and economic growth to protect its currency. They maintain ...