BAKU, Azerbaijan, August 20. Kyrgyzstan's Deputy Minister of Economy and Commerce Choro Seyitov shared an updated forecast on the country's GDP growth rate by the end of 2022, Trend reports via Kyrgyz Media.
"We have revised the forecast for the growth of the Kyrgyz economy in 2022, as the situation is developing positively," Seyitov announced.
According to him, from January through June 2022 the country's GDP amounted to 7.7 percent, and if the positive trend continues, then by the end of this year, the economic growth will be at 4-5 percent.
"Now inflation is observed all over the world, prices have risen, but we manage to restrain them so that there is no sharp jump. For example, we have zeroed out VAT rates, so granulated sugar or cane sugar is supplied without tax, and thanks to this, the price on the domestic market does not rise," he said.
He also noted that Kyrgyzstan has revised a forecast on inflation, and by the end of this year it will be approximately 14 percent.