Experts of the Eurasian Development Bank (EDB) predict a 1.1 percent GDP growth in Kyrgyzstan at year-end 2022.
According to them, the economy could grow by 1.6 percent in 2023, in 2024 — by 3.2 percent. GDP growth will be supported by the processes of reorientation of exporters and labor migrants to new markets.
«In the baseline scenario, we forecast a 7 percent reduction in Russia’s GDP this year. A noticeable decline is also predicted in Belarus — by 6.5 percent. All this will be the result of breaks in production and logistics chains, increased uncertainty and sanctions. Growth of the economies of the other member countries will slow down due to close economic ties with Russia and a slowdown in the global economy,» the bank’s macroeconomic forecast says.
Inflation in the republic could reach 15.3 percent at the end of the year. But already in 2023 it will slow down to 4.6 percent, and in 2024 it will be 4 percent. EDB names disruption of supply chains, increased volatility of the national currency, an increase in devaluation and inflation expectations, as well as rising prices for raw materials as the main factors behind the acceleration of inflation this year.
