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ADB reveals forecast for Kyrgyzstan's GDP growth in 2024-25

Kyrgyzstan Materials 11 April 2024 13:36 (UTC +04:00)
Abdullo Janob
Abdullo Janob
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BISHKEK, Kyrgyzstan, April 11. The Asian Development Bank (ADB) has published forecasts of Kyrgyzstan's GDP growth rates for 2024-2025, Trend reports.

According to the forecast, Kyrgyzstan's GDP growth rate in 2024 will be 5 percent, which is higher than the bank's previous report of 4 percent.

Simultaneously, it's anticipated that Kyrgyzstan's GDP growth rate will dip to 4.5 percent by 2025, signaling a change in economic dynamics likely influenced by several factors.

"Despite various economic projections, there's an expectation that Turkmenistan's inflation rates will remain relatively stable, hovering around the 8 percent mark through the year 2025," the bank notes.

Furthermore, ADB shows that Kyrgyzstan's GDP growth rates in 2022 and 2023 were 9 percent and 6.2 percent, respectively.

Meanwhile, Kyrgyzstan's GDP, according to the preliminary estimations of the country's State Statistical Committee, surpassed 1.2 trillion soms ($13.4 billion) in 2023, which is a 6.2-percent increase compared to 2022.

The industrial production volume in Kyrgyzstan reached approximately 483 billion soms ($5.4 billion) in 2023, which is a 2.7-percent growth compared to the same period in 2022.

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