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Asian Development Bank lowers Kyrgyzstan's GDP growth forecast

The Asian Development Bank has lowered the forecast for Kyrgyzstan’s GDP growth due to a slowdown in the extraction of minerals. ADB report says.

Earlier it was expected that by the end of 2018 the GDP of Kyrgyzstan will grow by 3.5 percent. However, in the updated report, the indicator was cut by one percent — to 2.5 percent. But the forecast for economic growth for the next year remained the same — 4 percent.

At the same time, it is expected that prices in the republic will grow by 3.8 percent in 2018, and in 2019 — by 4.5 percent.

ADB forecast for the entire Central Asian region was revised upwards by 0.1 percent. By the end of 2018, at least 4.1 percent growth is expected. Higher oil and gas prices, together with an increase in exports and investment, lead to significant economic growth in Central Asia.