EBRD Raises Gross Domestic Product Projections For Kyrgyzstan
Date
5/27/2024 12:17:39 AM
(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, May 27. The EuropeanDevelopment bank (EBRD) has revised its forecast for Kyrgyzstan'sGDP (gross domestic product) growth rate in 2024–25, Trend reports.
The bank expects Kyrgyzstan's GDP growth to reach 8.5 percent in2024, up 1.5 percent from September 2023.
Simultaneously, in the year 2025, bank's financial analystsanticipate a decrease in growth to 7 percent.
In their opinion, GDP growth will be driven by the resumption ofgold exports, elevated remittances, a continued construction boom,and strong domestic demand.
To recall, preliminary estimates from Kyrgyzstan's StateStatistical Committee stated that the country's GDP would exceed1.2 trillion soms ($13.4 billion) in 2023, a 6.2 percent increasefrom 2022.
In fact, industry in Kyrgyzstan produced 483 billion soms ($5.4billion) in 2023, up 2.7 percent from 2022.
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