Will Kyrgyzstan see jump in prices after presidential election?

Kyrgyzstan is in anticipation of presidential election. People do not know what changes it will bring but are very concerned about the possible price rise for food stuffs and goods. In this respect news agency 24.kg turns to specialists and asks if the election may trigger a price change and why?

Akylbek Japarov, Kyrgyz Minister for Economic Development and Trade:

We expect no price rise after presidential election in Kyrgyzstan. We have a bill on Food Security that protects 8 main kinds of products. Plus we hope that the state agency of antimonopoly policy and competitive development will solve the issue of sugar import to Kyrgyzstan in short terms. A lot will depend on motor fuels’ price, but we will do our best to keep it stable.

Baktybek Beshimov, Member of the Kyrgyz Parliament:

 I think prices will grow. First of all, after election the country will suffer from lack of funds as every penny is spent on election campaign.  Second of all, the world economic crisis continues and impacts economies of Kyrgyzstan and its neighbors – Kazakhstan, Russia and China. And last but not least, the economic crisis affects our labor migrants abroad, who cut money transfers to Kyrgyzstan. All this will naturally prompt the price rise, first for main food items and later for everything else.

Ellen Pein, director of the International Financial Corporation project of entrepreneurship support in Kyrgyzstan:

I am not good at this issue, but it seems to me that the prices will not grow. Today the situation in Kyrgyzstan is rather stable. There is no such tendency in the world that after election food prices should necessarily grow. It is very individual.

Raihan Avazova, salesperson at a Bishkek mini-market:

Oh, I have no idea. But people talk about price rise after election. If so, I don’t know what we will do. People have no money, and if the prices grow our trade will just stop.

Nikolay Kravtsov, independent expert:

It is difficult to answer for sure. However I see no signs of possible price rise. I think if the electricity tariffs rise, all other prices will grow consequently.

Valery Mihailenko, acting principle of the Kyrgyz-Kazakh academy:

In 2005 a kilo of onions or potatoes at the market cost 1 som, now it is 30 som. It is easy to calculate the growth of food stuffs’ prices. I don’t think that prices will grow after election, simply because it is already extremely high. People have no more money.

Maxim Sokolov, a print house worker:

I am sure the prices will traditionally grow after election. The world oil prices grow, but we do not see it in Kyrgyzstan yet. Obviously after election all prices will go up. Yet I would not dare to make any forecasts.