USD 69.84
EUR 79.59
RUB 1.05

April results: Stable GDP growth, rise in alcohol and cigarettes price

Today, the National Statistical Committee presented preliminary results of social and economic development of Kyrgyzstan in April. For the second month in a row, GDP is growing extremely slowly. At the same time, alcohol and cigarettes went up. The price of food products, on the contrary, declined.

Economic growth slows down

According to the results of January-April 2018, the GDP growth in the republic amounted to 132.6 billion soms. Compared to the same period in 2017, the indicator grew by 1.3 percent. The economy showed the same growth in the first quarter of the year.

Without taking into account the enterprises, developing Kumtor mine, GDP formed in the amount of 118.2 billion soms and grew by 2.5 percent. The growth is slowing down for the second month in a row. Compared with March, it decreased by 0.5 percent.

When gold pulls back

If the last year indices of industrial growth in Kyrgyzstan were the best among the countries of the Eurasian Economic Union, then in 2018 the industry cannot hold the position. In January-April, 2018, the volume of industrial output was 74.7 billion soms, with a fall of 1 percent, compared to the same period in 2017.

The growth in textile production volumes (1.6 times), production of rubber and plastic products, other non-metallic mineral products (by 33.8 percent), petroleum products (by 24.2 percent) and clothing (by 15.9 percent) was registered.

Expensive cigarettes and alcohol

In April, consumer prices and rates fell by 0.5 percent. A slight decrease was registered in prices for non-food products, food products and soft drinks — by 1.3 percent. Tariffs for services rendered to the population increased by 0.3 percent, and prices for alcoholic beverages and tobacco products — by 0.2 percent.

The maximum (2.5 percent) increase in prices was recorded in Naryn region. Prices in Batken region are falling — by 2.4 percent since the beginning of the year.

The average salary in the republic amounted to 15,120 soms. In comparison with 2017, it increased by 6.5 percent. Construction industry showed the largest growth.