BISHKEK, Kyrgyzstan, March 8. The International Monetary Fund (IMF) anticipates Kyrgyzstan's export of goods and services to reach $9.598 billion in 2024, Trend reports.
Projections indicate a rise to $10.212 billion in 2025, followed by $10.575 billion in 2026. The IMF predicts further growth to $10.783 billion in 2027, and $10.903 billion in 2028.
Export growth is expected to reach 43.9 percent in 2024, followed by 6.4 percent in 2025, 3.6 percent in 2026, 2 percent in 2027, and 1.1 percent in 2028.
The IMF's outlook also sheds light on the country's current account deficit, which is anticipated to stand at 9.7 percent of the GDP in 2024, gradually reducing to 7.9 percent in 2025, 5.9 percent in 2026, and 5 percent in both 2027 and 2028.
The IMF's report on Kyrgyzstan's economic performance in 2023 highlights robust growth driven by the construction and trade sectors, despite regional challenges. The country achieved successes in tax revenue mobilization and reducing public debt.
However, the prices of basic goods continued to rise, although the overall inflation rate decreased slightly. The official current account deficit remained significant due to factors such as reduced remittance inflows, decreased gold exports, and unrecorded re-exports.
The IMF's assessment emphasized the need for continued reforms and strategies in Kyrgyzstan to sustain growth and economic stability.