BAKU, Azerbaijan, May 30. The Board of the National Bank of Kyrgyzstan made the decision to maintain the refinancing rate at the current level of 13 percent, Trend reports.
The external economic conditions, which have a direct and indirect impact on the economy of Kyrgyzstan, continue to be influenced by uncertainty and remain ambiguous, with volatility in the external financial markets persisting, the National Bank of Kyrgyzstan said.
Despite the gradual downward trend in prices in the global food and oil markets, many countries still maintain high inflation expectations.
Meantime, real GDP growth from January through April 2023 in Kyrgyzstan amounted to 4.4 percent. The greatest contribution to economic growth continues to be made by the service sector. Domestic demand continued to grow steadily.
Kyrgyzstan has witnessed a 4.2 percent increase in consumer prices since the start of 2023, with the annual inflation rate reaching 11.2 percent as of May 19. The current inflation is primarily attributed to the impact of tariff adjustments.
Considering the dynamics of both internal and external economic factors, the National Bank of Kyrgyzstan has chosen to maintain the refinancing rate at its current level, not making any changes.