The Eurasian Development Bank (EDB) predicts Kyrgyzstan’s GDP growth at the end of 2024 at 9.4 percent. The bank’s Deputy Chairman of the Board and Chief Economist Evgeny Vinokurov said at the presentation of the macroeconomic outlook for 2025-2027.
It should be noted that the bank’s June macroeconomic forecast assumed economic growth of 5.5 percent.
The forecast for GDP growth in 2025-2026 has also been increased — to 8.7 and 6.4 percent, respectively. In June, the EDB expected the economy to grow by 5.3 and 4.1 percent in these years.
The bank emphasizes that high investment activity will continue to be a key driver of the Kyrgyz economy. In 2025, an influx of foreign direct investment into the mining industry is expected. Investment activity will receive an additional boost from the implementation of state projects in water supply, energy and road infrastructure. These projects are financed by international organizations. The economy will receive additional support as a result of increased production in the manufacturing industry, including metals, oil products, textiles, and construction materials.
The inflation forecast for this year has been revised upward. By the end of 2024, inflation in the republic is expected to be at 5.6 percent (June forecast — 4.3 percent). The inflation estimate for 2025-2026, on the contrary, has been reduced to 5 and 5.5 percent, respectively (the previous forecast was 6.6 and 6.5 percent).
The EDB notes that the expected increase in world food prices, as well as the planned increase in electricity tariffs, will put pressure on domestic prices in Kyrgyzstan. On the other hand, weakening domestic consumer demand and an increase in the key rate will restrain the dynamics of consumer price growth.
