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National Bank of Kyrgyzstan lowers inflation forecast for 2019

The National Bank of Kyrgyzstan has adjusted inflation forecasts in Kyrgyzstan for 2019 downwards. The Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov said at a press conference.

According to him, the economy of Kyrgyzstan as a whole is developing in line with the expectations of the National Bank. But prices on world food markets were lower than forecast. It is expected that the trend in global and regional markets in the coming periods does not carry significant inflation risks for the Kyrgyz economy.

«This allowed to reduce the inflation forecast. By the end of 2019, it is expected to be not higher than 4 percent (December 2019 to December 2018). Its annual average rate will be 1 percent in the absence of internal and external shocks,» Tolkunbek Abdygulov told.

Earlier, the National Bank predicted a rise in prices in the country by 6 percent for the year.