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National Bank predicts economic growth in Kyrgyzstan at 6.9 percent in 2024

The analysis shows that the real sector of the economy of Kyrgyzstan in 2024 will demonstrate growth no lower than the average level of the last three years. The latest report on the monetary policy of the National Bank of Kyrgyzstan says.

The National Bank of the Kyrgyz Republic expects that at year-end 2024 real GDP growth is estimated at about 6.9 percent. This growth will be supported by the manufacturing industry, wholesale and retail trade, and the construction sector, which are demonstrating strong growth thanks to the fiscal policy measures of the Cabinet of Ministers of the Kyrgyz Republic and the observed vigorous activity of business entities.

The forecast is significantly upgraded compared to the previous report. Previously, the National Bank believed that economic growth at year-end 2024 will be about 3.9 percent.

Real GDP growth is projected to be at 5 percent in 2025. Compared to the monetary policy report for 2023, expectations for economic growth in 2024 downgraded by 0.7 percent.