EBRD publishes forecast on Kyrgyzstan’s GDP growth

Kyrgyzstan Materials 16 February 2023 13:10 (UTC +04:00)
Alyona Pavlenko
Alyona Pavlenko
Read more

BAKU, Azerbaijan, February 16. The gross domestic product (GDP) growth in Kyrgyzstan is forecasted to be at 7 percent in 2023, Trend reports, citing the latest report of the European Bank for Reconstruction and Development (EBRD).

The EBRD’s prediction on the country’s GDP growth remains the same as as September 2022.

Meanwhile, the bank expects Kyrgyzstan’s GDP growth at 7.2 percent in 2024.

According to the bank's report, Kyrgyzstan and Mongolia share the second-highest indicator of GDP growth forecasted among Central Asian countries in 2023, while Tajikistan leads the list with 8 percent.

As the bank noted, exports from the European Union, the UK and the US to Kyrgyzstan showed a significant increase from May through July 2022. The trade growth also positively influenced the development of logistics industry and financial services.

At the same time, Kyrgyzstan registers significant increases in inflows of labor, capital and remittances from Russia.

In general, the EBRD forecasted the GDP growth in Central Asia to be at 4.9 percent in 2023, and 5.4 percent in 2024.