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EBRD forecasts economic growth of 7 percent for 2023 in Kyrgyzstan

The European Bank for Reconstruction and Development (EBRD) confirmed its September forecast for the economic growth in Kyrgyzstan in 2023. The latest macroeconomic review of the EBRD says.

Expectations remain the same. GDP will grow by 7 percent this year and by 7.2 percent in 2024.

The bank notes that the volume of exports of the EU countries, the USA and Great Britain to the states of Central Asia increased last year. The increase in indicators was especially noticeable in Kyrgyzstan and Armenia.

«Exports from the European Union, the UK and the U.S. to the region of Central Asia and the Caucasus have increased sharply, hinting at the growth of «intermediary trade». Thanks to it, goods are exported to the Central Asian countries, and then sold to Russia. So far, this intermediary trade represents a small share of the reduction in Russia’s direct imports from the West,» the EBRD stresses.

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