After the break-up of the Soviet Union, the ecomic contraction in the Kyrgyz Republic was among the worst experienced in the Commonwealth of Independent States (CIS). Their output declined by fifty percent between the years 1991 and 1995. The fiscal costs to the country were thing short of disastrous. Just as the Kyrgyz Republic was about to decisively restore growth and macroecomic stability, a series of natural disasters and a regional crisis caused ather fiscal setback. This report details a set of measures which, if implemented, will restore fiscal stability to the country. It focuses on reforming public utilities and the tax system, citing these as in the most need of reform.