7%; The budget deficit to GDP is no more than 5%. The indicators of the Kyrgyz Republic in the system of international ratings have been improved, such as the Doing Business (50 countries), the World Economic Forum Global Competitiveness Index (70 countries), Transparency International (50 countries), the Global Happiness Index (30- countries). 3.3. Enabling Environment 3.3.1. Macroeconomic stability and monetary policy 3.3.1.1. At the end of 2017, the Kyrgyz Republic achieved one of the highest rates of economic growth among the member countries of the EAEC and amounted to 4.6%. The government will preserve and strengthen economic growth trends in order to ensure macroeconomic stability. The role of the National Bank of the Kyrgyz Republic in promoting economic growth will significantly increase. 3.3.1.2. It is important to maintain a free financial market and expand investment tools. Conducting a balanced monetary policy aimed at supporting the export of domestic producers' products and ensuring a sufficiently stable level of domestic demand of the population. The government will promote this policy through fiscal instruments (tax incentives, export subsidies, lending, etc.). 3.3.1.3. The inflation policy should be guided by the basic principle measures to contain prices should not impede economic growth and simultaneous ly take into account the interests of the population. The government will take measures to keep inflation within the single-digit indicators - no more than 5-7% on average per year. 3.3.1.4. In the medium term, the Government needs to achieve the following targets: - ensuring the dynamic development of the economy (at least 4%) and stable growth in the incomes of the population and, consequently, reducing the level of poverty to 20%; - ensuring the balance of public finances and maintaining a controlled level of the deficit of the state budget - within 3-5% of GDP. 3.3.1.5. Effective public financial management will help ensure that the Government's financing needs are met through borrowing with the least possible cost and reasonable risk level and sustainability of public debt. New external borrowings should be used only for the most priority programs and projects that will promote economic growth and reduce poverty. 3.3.1.6. The government will continue to implement program budgeting, provide a dynamic transition from social to investment orientation of the budget for the development of the real economy, improve efficiency and achieve strategic and operational goals. 3.3.1.7. The reform of the public financial management system, which meets the requirements of effectiveness and efficiency, will be continued. It is necessary 12

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