By the end of 2024, economic growth in Kyrgyzstan is expected to reach 6.3%. This conclusion was reached in a forecast by the Ministry of Finance of Kyrgyzstan.
Inflation is expected to be 6.6% compared to December of the previous year. This level of inflation is attributed to the domestic market's dependence on imports, volatility in the financial market, global commodity prices, as well as increased domestic demand driven by rising incomes, reports *Economist.kg*.
In the structure of GDP production in 2024, the main sectors will be services, industry, and agriculture. The service sector will account for 50.5% of GDP, industry for 15.1%, and agriculture for 9%.
It is forecasted that industry will grow by 3.1%, and excluding enterprises engaged in the development of the Kumtor deposit, the growth will be 10%. Agriculture is expected to grow by 2.5%, the service sector by 6.2%, and construction by 15.7%.
The net export of goods and services to GDP in 2024 will be (-40.9%), which is 0.8% worse than in 2023 (-40.1%). Meanwhile, exports of goods in 2024 will amount to $3.5 billion, a 6% increase in nominal terms compared to the previous year. Imports of goods, in turn, will amount to $13.4 billion, an increase of 8.5% in nominal terms.
CentralasianLIGHT.org
September 3, 2024