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EDB forecasts 1 percent drop of Kyrgyzstan’s GDP in 2020

Kyrgyzstan’s GDP may drop by 1 percent at the end of 2020. Updated macro review of the Eurasian Development Bank says.

The economy will recover in 2021 and show a growth of 5.6 percent, and in 2022 — 4.2 percent. Inflation is expected at 5.6 percent this year with a slowdown to 3.2 percent in 2021.

«Drop of the aggregate GDP of the EDB member countries in 2020 due to the COVID-19 pandemic, according to our estimates, may reach 2.2 percent. Armenia, Kyrgyzstan and Tajikistan will experience an additional shock associated with a fall in remittances from labor migrants, which are traditionally a significant source of household income,» the macro review says.