The economy of Kyrgyzstan approached the peak of recovery growth, which is due to the low base of the previous year. The macroeconomic review of the Eurasian Development Bank says.
It is noted that the acceleration of economic growth is mainly due to about four times increase in gold production in December 2021. At the same time, the low base effect in 2020 will continue to influence GDP growth in the first months of 2022.
«The improvement of situation in the economy is mainly due to the manufacturing and retail sectors, while agriculture and construction continue to decline. Domestic investment and consumer demand also remain weak. We estimate that GDP will continue to accelerate in early 2022. A slowdown in economic growth rates is expected at the end of the first half of the year due to the exhaustion of the low base effect,» the review says.
