BAKU, Azerbaijan, March 20. The experts of the European Development Bank (EDB) forecast Kyrgyzstan's GDP growth to decelerate to 3.5 percent by 2023-end, Trend reports citing the EDB.
According to the bank, Kyrgyzstan's economic growth from January through February 2023 increased to 6.0 percent year-on-year from 4.8 percent in January 2023.
"A year earlier, the country's GDP over the same period last year increased by 1.1 percent year-on-year. The improvement in the dynamics of the indicator was facilitated by an increase in the volume of gold production. The output of base metals in the reporting period of 2023 grew by 28.8 percent year-on-year," the report explained.
Furthermore, the EDB noted a recovery in the growth of activity in the mining industry, the energy sector, construction, retail trade, in the provision of services by hotels and restaurants, in which a decline in production was noted a year earlier.
"We expect that, as the country gets out of the low indicators of the previous year, the dynamics of GDP will slow down and by the end of 2023, growth may reach 3.5 percent," the bank concluded.