11:37, 28 апреля 2026, Bishkek - 24.kg news agency , Anvar ABDULLAEV
The Board of the National Bank of Kyrgyzstan has decided to keep the discount rate at 12 percent. The decision comes into effect today, April 28.
The bank explained that inflation in the country is driven by external and internal factors, with external conditions continuing to exert the main pressure on prices.
According to the National Bank, geopolitical tensions and high global uncertainty are contributing to rising prices in global food and raw material markets. In particular, over the past two months, amid the escalation of the conflict in the Middle East, prices for grain crops, vegetable oils, and energy resources have risen.
Inflation in Kyrgyzstan’s main trading partners remains an additional factor, affecting the cost of imported goods. Rising logistics costs and changes in global supply chains are also putting pressure on domestic prices.
Since the beginning of 2026, inflation in Kyrgyzstan stood at 3.9 percent as of April 17. In annual terms, the figure reached 11.3 percent.
In the consumer price index, food prices increased by 10.8 percent, non-food prices by 9.2 percent, and alcohol and tobacco prices increased by 8.9 percent. The highest price growth was recorded in the services sector — 17.2 percent.
The National Bank of the Kyrgyz Republic noted that domestic demand is supported by consumer activity amid rising wages and remittances.
Economic activity in the country remains high. Kyrgyzstan’s real GDP grew by 10.1 percent in January — March of this year. The services, industry, and construction sectors contributed the most to this economic growth.
The National Bank stated that it will continue to adhere to tight monetary conditions to ensure price stability and return inflation to the target range of 5-7 percent in the medium term.
The bank emphasized that further price dynamics will largely depend on external conditions, primarily the situation in global food and raw materials markets, as well as developments in the Middle East.
If additional risks to price stability arise, the National Bank promised to respond promptly with monetary policy measures.
The next scheduled board meeting to discuss the discount rate will be held on May 25.