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Cabinet of Ministers talks positive tendencies in Kyrgyz economy

Kyrgyzstan Materials 24 March 2023 13:12 (UTC +04:00)
Cabinet of Ministers talks positive tendencies in Kyrgyz economy
Alyona Pavlenko
Alyona Pavlenko
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BAKU, Azerbaijan, March 24. The volume of the GDP (gross domestic product) in Kyrgyzstan exceeded $10 billion in 2022, the real growth rate was 7 percent, Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov said, Trend reports with reference to the Cabinet of Ministers.

The main macroeconomic development scenarios of the country were discussed following the meeting of Coordinating Council for Macroeconomic and Investment Policy under the Cabinet of Ministers of Kyrgyzstan held in Bishkek.

Japarov noted that due to the economic instability and uncertainty, certain international institutions had previously forecasted a fall in the GDP growth rate of Kyrgyzstan (the World Bank - by 5.0 percent, the International Monetary Fund - a slowdown to 0.9 percent).

"Despite these forecasts, the growth rate of the national economy showed a positive tendency throughout the reporting period. The country's GDP, according to preliminary statistics, amounted to 919.4 billion soms ($10.5 billion) at the end of 2022," the chairman noted.

According to him, the International Monetary Fund (the IMF) has revised the forecast of the economy growth in Kyrgyzstan in its latest report - from 3.2 percent to 3.5 percent this year, and 3.8 percent in 2024.

"The World Bank also improved the forecast regarding Kyrgyz economy – from 3.4 percent to 3.5 percent in 2023, and 4 percent in 2024," Japarov said.

Meanwhile, according to the National Statistical Committee of Kyrgyzstan, the GDP of the country amounted to 723 billion soms ($8.26 billion) in 2021.

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