The Eurasian Development Bank has maintained its forecast for economic growth and consumer prices in Kyrgyzstan for 2023. The data is contained in the April macroeconomic report of the Development Institute, Economist.kg reports.
GDP growth in Kyrgyzstan this year will be 3.5%, according to EDB analysts. They expect economic development to slow down by the end of March 2023, when the low performance of 2022 in gold production and the service sector will come out of the calculations.
Official figures for economic growth are still above EDB forecasts. According to preliminary data from the National Statistical Committee of Kyrgyzstan, GDP growth in the first quarter of 2023 amounted to 4.6%. However, compared to the end of 2022, the economy of Kyrgyzstan began to slow down, which just fits into the logic of experts from the EDB.
The Development Bank also maintained its forecast for the consumer price index. The bank expects inflation to reach 5.2% at the end of 2023.
“According to EDB analysts, inflation may begin to slow down in mid-spring - after the surges of the previous year come out of the calculation. In the rest of the year, volatility in inflation dynamics will continue, while we still expect that the indicator will move on a downward trajectory,” the bank said in a report.
CentralasianLIGHT.org
April 12, 2023