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EDB: Kyrgyzstan to keep high growth rates in economy

High growth rates in the economy will be preserved in Kyrgyzstan at the expense of good external conditions. The monthly macroeconomic review published by the Eurasian Development Bank (EDB) contains such conclusions.

It is noted that in January-May 2017, GDP growth slowed to 6.8 percent. In May, there was also a decline in output in a number of extractive and processing industries. At the same time, the increase in basic metals output remains high (52.5 percent by January-May 2016). This, with a margin, compensates for the decline in activity in other branches of the industrial sector.

Construction, agriculture, retail trade demonstrate stable moderate growth. Most probably, they will form the basis of growth in the second half of 2017, when the effect of a low base in the gold sector will be exhausted.

«In Kyrgyzstan, a significant increase in exports of textiles and agricultural products is observed along with high growth rates in the export of raw materials. In general, the growth in mutual trade is observed in all EDB countries, which creates the prerequisites for a more sustainable recovery of the dynamics of the countries of the region in the coming years," Yaroslav Lissovolik, Chief Economist of the bank, said.