BISHKEK, Kyrgyzstan, April 11. The World Bank (WB) has published a forecast for Kyrgyzstan's GDP growth in 2024-2026, Trend reports.
Kyrgyzstan's GDP growth is predicted to slow to 4.5 percent in 2024, up 0.5 percentage points from the previous January projection.
"GDP growth is predicted to fall to 4.5 percent in 2024 as the services sector weakens. On the demand side, consumption growth is likely to slow despite a minor increase in remittance inflows, while investment and net exports are expected to boost growth. Annual GDP growth is predicted to decelerate down to 4 percent over the medium term in the absence of structural reforms to enhance potential growth," the bank notes.
Furthermore, the World Bank projects that Kyrgyzstan's GDP growth in 2025 will be 4.2 percent, falling to 4 percent in 2026.
Meanwhile, according to preliminary estimates from Kyrgyzstan's State Statistical Committee, the country's GDP would exceed 1.2 trillion soms ($13.4 billion) in 2023, a 6.2 percent increase from 2022.
Kyrgyzstan's industrial production volume reached roughly 483 billion soms ($5.4 billion) in 2023, a 2.7 percent increase from the same period in 2022.