The International Monetary Fund expects the Kyrgyz economy to grow by 5.5% this year. At the same time, further growth prospects are subject to significant uncertainty.
This is the conclusion reached by the staff of the IMF mission, which held consultations in Kyrgyzstan during the past November. As follows from the official conclusion of the Fund, the economy of Kyrgyzstan grew by 7% in January-October 2022. But over the remaining two months, GDP growth will be significantly lower and by the end of the year it will be only 5.5%.
In 2023, Kyrgyzstan's GDP growth will slow to 3.5% due to pressure from the Russian economy, which is projected to contract. An additional constraint on the economy of Kyrgyzstan will be a slowdown in the agricultural sector after exceptionally high growth rates, the IMF said in the conclusion.
In the medium term, the IMF predicts, the GDP growth rate of Kyrgyzstan will reach its potential level of around 4%.
A similar forecast was given the day before by the Eurasian Development Bank - growth of 3.5% in 2023 and around 4% in the future. The only difference is that the EDB expects an increase in Kyrgyzstan's GDP this year by only a little over 3%.
CentralasianLIGHT.org
December 5, 2022