EBRD increases GDP projections for Kyrgyzstan
The European Development Bank (EBRD) has revised its forecast for Kyrgyzstan's GDP (gross domestic product) growth rate in 2024–25, Trend reports.
The bank expects Kyrgyzstan's GDP growth to reach 8.5 percent in 2024, up 1.5 percent from September 2023.
Simultaneously, in the year 2025, bank's financial analysts anticipate a decrease in growth to 7 percent.
In their opinion, GDP growth will be driven by the resumption of gold exports, elevated remittances, a continued construction boom, and strong domestic demand.
To recall, preliminary estimates from Kyrgyzstan's State Statistical Committee stated that the country's GDP would exceed 1.2 trillion soms ($13.4 billion) in 2023, a 6.2 percent increase from 2022.
In fact, industry in Kyrgyzstan produced 483 billion soms ($5.4 billion) in 2023, up 2.7 percent from 2022.