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Experts predict growth of dollar rate in Kyrgyzstan in 2017-2019

The dollar exchange rate in Kyrgyzstan in the coming years will increase and by the end of 2019 its average value can reach 76.5 soms. Such data are contained in the monthly macroeconomic review of experts of the Eurasian Development Bank (EDB).

It is noted that the low base effect in the Kyrgyz economy is being exhausted. The GDP growth rate is gradually normalizing. Growth driver is the gold mining sector. In the first two months of this year, the real sector of the economy received support from the branches of agriculture.

It is expected that the implementation of the state program for concessional financing of agriculture, unlike in 2016, will take place in conditions of a relatively balanced real KGS index.

Consumer demand in the near future will be stimulated by increased lending. In February 2017, the growth of loans issued was 33.4 percent, which was provided by the increased volume of loans issued to the trade and consumer sectors.

At the end of 2017, the EDB forecasts GDP growth in Kyrgyzstan at 3.6 percent, and in the next two years — 3.5 and 3.4 percent. At the same time, a significant increase in prices at 5.9 percent is expected this year and 7.3 and 6.8 percent - in 2018–2019.

As for the dollar rate, in 2017 its average cost will be 69.9 soms, in 2018 — 72.9 soms, and in 2019 — 76.5 soms.

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