Inflation in Kyrgyzstan is expected to reach 7.5 percent at year-end 2023. The draft budget of the country for 2023 and 2024-2025 prospected period contains such a forecast.
At the same time, according to the results of this year, prices are forecast to rise by 15.3 percent. This is slightly above the expectations of the Asian Development Bank, but 0.2 percent below the forecast of the National Bank.
The Ministry of Finance notes that the main goal of monetary policy in 2023 will be to achieve price stability and maintain it at a sustainable level. An important condition for the effective impact of monetary policy on the economy is a floating exchange rate. Formation of the exchange rate will be based on a market mechanism based on supply and demand.
«In order to maintain stability in the banking system, special attention will be paid to identifying and reducing the risks inherent in banking activities, strengthening the risk management system in commercial banks. All this will help keep inflation at 7.5 percent,» the explanatory note to the draft budget says.
In 2024, inflation will be 5.6 percent, and in 2025 — 4.9 percent.
