Electricity blackouts cost Kyrgyzstan 60bln or 6 percent of GDP growth

Electricity blackouts cost Kyrgyzstan about 60 billion soms or 6 percent out of GDP growth, the Minister of Economic Development and Trade Akylbek Japarov said Tuesday at the session of economy, budget and finances committee of parliament.

“We have involved scientist, experts and came to conclusion that if Kyrgyz economy lacked 1 percent of the needed power energy, then in GDP growth we lost 0.2 percent. And if the energy specialists are right when say that they “underdid” about 30% of the required power, than the GDP growth may have gained 6-7 percents more and his 12-13 percent, instead of 7 that we have now,” the minister said.

“If in 2009 the volumes of the electricity outcome will stay on the same level that in 2008, which is obvious, as it simply cannot be lower, then we will lack about 60 billion soms,” Japarov said.

According to the minister the general economic loss of 2008 is likely to be about the same.