Kyrgyzstan and Russia develop new methods for forecasting budget revenues

As part of the bilateral cooperation programme between the Ministries of Finance of Kyrgyzstan and Russia, an online seminar was held on the development of modern methods for forecasting state budget revenues.

The event was attended by Almazbek Kochkorov, Head of the State Revenue Analysis and Forecasting Department of the Ministry of Finance of Kyrgyzstan, and Sergey Sudakov, Head of the State Revenue Forecasting and Analysis Division of the Centre for Macroeconomic Research of the National Institute for Financial Research of the Ministry of Finance of Russia, Candidate of Economic Sciences. Other experts from the Russian side also joined the discussion.

The participants discussed ways to improve the accuracy and quality of budget forecasting, exchanged experiences in the use of analytical tools, and reviewed the methodology for constructing medium- and long-term revenue forecasts up to 2030.

Particular attention was paid to the introduction of innovative approaches that allow for macroeconomic risks and trends to be taken into account and increase the transparency of the budget process.