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Kyrgyzstan notes increase in industrial output - EDB

Kyrgyzstan Materials 27 March 2023 11:39 (UTC +04:00)
Kyrgyzstan notes increase in industrial output - EDB
Alyona Pavlenko
Alyona Pavlenko
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BAKU, Azerbaijan, March 27. Industrial output in Kyrgyzstan increased by 13.3 percent year-on-year from January through February 2023, Trend reports with reference to the Eurasian Development Bank’s latest economic outlook.

“The gold mining sector played a key role in this growth, increasing by 28.8 percent year-on-year, partly due to low performance in the same period of 2022 (a decrease of 6.3 percent year-on-year),” the bank said.

As experts noted, the textile enterprises also contributed to the growth of the industrial sector of Kyrgyzstan, benefiting from increased demand from Russia.

The EDB earlier said that the inflation rate in Kyrgyzstan accelerated to 16.2 percent year-on-year in February 2023 from 15.3 percent year-on-year a month earlier.

As the bank noted, the inflation may begin to slow down, after the spikes in price growth of the previous year come out of the calculation.

The Eurasian Development Bank is an international financial institution founded in 2006 and headquartered in Kazakhstan’s Almaty city. The bank carries out investment activities aimed at developing economies, as well as trade and economic relations in its member states.

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