BISHKEK, Kyrgyzstan, April 11. The Asian Development Bank (ADB) presented predictions of a consistent fall in inflation in Kyrgyzstan for 2024 and 2025, Trend reports.
According to the forecast, Kyrgyzstan's inflation in 2024 will be 7 percent, which is lower than the bank's previous forecast of 8.6 percent.
At the same time, the bank predicts that inflation in Kyrgyzstan will fall further in 2025, reaching 6.5 percent.
"Inflation fell little as food costs rose, but it remained elevated. The current account decreased due to an increase in imports and significant undocumented exports. Inflation should fall as monetary policy tightens. More effective monetary policy can be used to tackle inflation," the bank notes.
Meanwhile, recently, Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov, during a meeting of the country's parliament, said that inflation in Kyrgyzstan was projected to decrease in 2024.
"Our economy is gradually adapting to the post-COVID and geopolitical realities that have arisen in recent years. In 2023, inflation fell from 14.7 percent at the start of the year to 7.3 percent by the end, with forecasts for 2024 indicating a drop in the range of 6.5–5.5 percent. The country maintains economic stability," Japarov noted.