Experts from the Asian Development Bank predict moderate growth in the Kyrgyz economy in 2023-24, the ADB Resident Mission in Kyrgyzstan said in a statement.
In its Asia Development Outlook 2023 report, the ADB predicts a slowdown in the country's economy to 4.5% this year and 4% next. According to ADB economist Jules Hugo, geopolitical events can affect economic growth and inflation through remittances, exchange rate fluctuations, trade and financial ties. At the same time, the expert pointed out that the inflation rate in Kyrgyzstan is now slowly declining to the level before the start of the COVID-19 pandemic, but, nevertheless, it still remains high for the republic.
Gulnur Kerimkulova, Senior Economist at the ADB Resident Mission in the Kyrgyz Republic, in her presentation "Development Review of the Kyrgyz Republic - 2023" specified that this year inflation will slow down to 12% and to 8.6% in 2024. She cited lower prices for imported food and energy products, as well as a decrease in demand for them, as a probable reason.
CentralasianLIGHT.org
April 6, 2023