BAKU, Azerbaijan, June 5. The Eurasian Development Bank (EDB) has changed the forecast for inflation rate in Kyrgyzstan to 7.1 percent in 2023, Trend reports.
The previous bank’s outlook estimated the inflation rate in Kyrgyzstan at 5.2 percent in 2023.
On one hand, the adjustment in the forecast is linked to the government's plan to increase electricity tariffs in the second quarter of 2023.
On the other hand, the decline in prices in the global food and oil markets, along with the resolution of issues in global supply chains, will contribute to reducing domestic prices in Kyrgyzstan during the second half of 2023.
Meanwhile, the EDB forecasts a further revision in the inflation rate for the country, projecting it to decrease to 6.3 percent in 2024, compared to the previous outlook of 4.8 percent.
According to the forecast, the inflation rate in Kyrgyzstan in 2025 will also stand at 6.3 percent.
Meanwhile, the EDB estimated the inflation rate in Kyrgyzstan at 14.7 percent in 2022 and at 11.2 percent in 2021.