BISHKEK, Kyrgyzstan, March 7. The International Monetary Fund (IMF) projects a promising trajectory for Kyrgyzstan's economy, forecasting nominal GDP to reach 1.286 trillion soms, or $13.791 billion, in 2024, Trend reports.
According to IMF assessments, this growth trend is expected to continue in the subsequent years, with the country's nominal GDP reaching 1.429 trillion soms or $14.873 billion in 2025, 1.568 trillion soms or $15.842 billion in 2026, 1.708 trillion soms or $16.752 billion in 2027, and 1.847 trillion soms or $17.594 billion in 2028.
Despite the challenging regional environment, the IMF highlights Kyrgyzstan's robust economic growth in 2023, driven by the construction and trade sectors. The IMF's Executive Board Assessment commends the country's efforts to maintain macroeconomic stability, particularly amidst external pressures.
However, the IMF Directors caution that while the economic outlook appears favorable, significant risks remain, including those related to the war in Ukraine, geopolitical tensions, and climate change. They stress the importance of leveraging the current macroeconomic conditions to reinforce policy frameworks and enact reforms aimed at enhancing resilience and fostering inclusive growth.
The Ministry of Economy of Kyrgyzstan reports that the country's GDP surpassed 1.2 trillion soms ($13.4 billion) in 2023, with a real growth rate of 6.2 percent.