BISHKEK, Kyrgyzstan, August 15. Kyrgyzstan's annual GDP growth stood at 2.9 percent during the period from January to July 2023, following a growth of 3.9 percent in the January-June period, Trend reports.
According to the Eurasian Development Bank (EDB), the decline in this indicator was a result of reduced production volumes of primary metals (mainly gold), with a year-on-year decrease of 12.6 percent, and a drop in agricultural output of 1.7 percent year-on-year, following a growth of 2.5 percent year-on-year in January–June 2023.
The bank’s analysts explained that in both cases, the negative trend could be attributed to the high performance of the previous year.
"Both internal and external demand have continued to play the role of a key driver of the economy. We believe that demand dynamics will slow down in the remaining part of the year due to a decrease in the pace of real wage growth and the stabilization of gold export growth rates," EDB said.
According to the National Statistical Committee of Kyrgyzstan, the volume of GDP in Kyrgyzstan reached around 563 billion soms ($6.4 billion) from January through July 2023.