ADB forecasts economic growth in Kyrgyzstan of 5 percent in 2024
The Asian Development Bank (ADB) has raised the forecast for Kyrgyzstan’s economic growth in 2024 to 5 percent from the previously expected 4 percent. The Asian Development Outlook 2024 says.
GDP growth is expected to reach 4.5 percent in 2025.
Investments and private consumption will remain the main growth drivers. This will be influenced by high incomes of the population due to the projected slowdown in inflation and an increase in remittances. The ADB forecasts a decline in GDP growth rates due to reduced growth in construction and services sectors. The current account deficit will decrease in 2024-2025 due to higher gold exports and lower imports (including due to a decrease in re-exports).
At the same time, inflation will slow down to 7 percent this year and 6.5 percent next year.
