Then_And_Now_In_Transition_Countries

Then And Now In Transition Countries Throughout the years of independence there have been numerous significant changes in the economy of Kyrgyz Republic. Many people especially elderly claim that the life was much easier and better then. In contrast, other people believe the reforms that have been made would lead us to prosperity and some people are already enjoying that prosperity and fruits of the changes. Since early 1990s Kyrgyz economy have experienced many transformations that contributed in changes in standard of living, level of income and others. Having gained independence in 1991, our country inherited the vulnerable economy with deformed structure and ineffective dependent from Moscow management mechanisms. Despite having a considerable amount of natural resources, a highly skilled workforce and a beneficial geographical position, Kyrgyz Republic experienced many problems with the restructuring of the economy. “Kyrgyzstan economy entered to a difficult period of economic adjustment in which the consequences of the dissolution of the Soviet Union had to be faced. They included hyperinflation, losses of production and distribution links, overall economic decline and loss of direct Soviet budgetary support.” (Omurzakov, Internet) Output fell dramatically across the entire Kyrgyz economy. GDP (Gross Domestic Product) fell by about 10% in 1991, by 16.5% in 1993, by kyrgyz, been, economy, republic, economic, reforms, inflation, market, country, 2001, rate, private, people, national, kyrgyzstan, imf, government, gdp, enterprises, changes, according, 1991, year, numbers, made, growth, financial, experts, crisis, countries, claim, budget, agriculture, 2002, thousands