A low base effect in the gold mining sector will be exhausted in early autumn of 2019 that will lead to a slowdown in economic growth in Kyrgyzstan. Analyst of the Economic Analysis Department of the Eurasian Development Bank Aigul Berdigulova told 24.kg news agency.
According to her, production of gold at Kumtor mine makes the main contribution to the development of the economy. Excluding Kumtor, GDP is growing amid stronger performance in the construction sector and retail trade. Recovery trend in economic activity will continue in August 2019. This is evidenced by the increased optimism of economic agents regarding short-term prospects in the economy.
«At the end of 2019, we expect a GDP growth of 4 percent. According to our estimates, the low base effect will completely exhaust itself by the end of the third quarter of 2019. This will contribute to some extent to recovery in the manufacturing sector. Moreover, by the end of 2019, the dynamics of investments will continue to form with an active participation of the public sector,» said Aigul Berdigulova.
