National Bank of Kyrgyzstan keeps discount rate at 9 percent
The National Bank of the Kyrgyz Republic kept the discount rate at 9 percent. The Deputy Chairman of the National Bank of the Kyrgyz Republic, Azat Kozubekov, reported. The decision comes into force on November 26, 2024.
According to him, the inflation background in the country remains stable due to the monetary policy being pursued. Annual inflation in November amounted to 5.2 percent, down from 7.3 percent at the beginning of the year. The growth in prices for food and non-food products continues to slow down.
Economic activity in Kyrgyzstan continues to grow. For ten months of 2024, real GDP increased by 9.6 percent, which was facilitated by the development of the construction sector, the service sector against the backdrop of growing trade and investment. The increase in household income was influenced by a growth of real wages and an increase in remittances from abroad. An increase in investment in fixed assets is also recorded, mainly due to domestic sources.
Note of 24.kg news agency
The discount rate is the interest rate at which the National Bank lends to commercial banks. It affects the lending rates offered by commercial banks to businesses and ordinary citizens.
