USD 84.81
EUR 101.79
RUB 1.14

Recovery of Kyrgyzstan’s economy after crisis to begin by the end of 2021

Start of sustainable economic recovery in Kyrgyzstan is expected by the end of 2021. Macroeconomic review by the Eurasian Development Bank (EDB) says.

At the beginning of the year, depth of the decline in consumer demand began to decrease after lifting of restrictions on the work of a number of enterprises in the service sector in December 2020 and a decrease in the number of active cases of COVID-19 in December — early January.

«Nevertheless, risks of worsening of the situation remain elevated, given the growth in the number of new cases of the disease abroad and uncertainty about the timing of vaccination,» the EDB said.

At the same time, according to the forecast, recovery of the mining enterprises will be slow that will continue to restrain development of the industrial sector in the first quarter of 2021. The scale of decline in consumer activity in the short term will continue to decrease. Nevertheless, decline in household income will continue to curb consumer demand throughout 2021.