Kyrgyzstan Economic Outlook
July 3, 2018Economic activity expanded at a modest pace in year-on-year terms in the January–May period, following robust growth in 2017. The sharp reduction in gold extraction at the all-important Kumtor mine was behind the halving in output of metal ores, which weighed significantly on the performance of the industrial sector and on overall growth. The external sector also continued to be severely hit by the contraction in the mining sector. On the other hand, wages rose strongly in the period, which, together with rising remittances inflows, led to sustained growth in retail sales.
Kyrgyzstan Economic GrowthFalling mineral production will cause growth to decelerate notably this year and also translate into a widening current account deficit. Some support to the economy will come from robust remittances from Russia, which should underpin consumer spending, and from government measures to enhance the business environment. FocusEconomics panelists project GDP growth of 4.0% in 2018, up 0.1 percentage points from last month’s forecast, and 4.5% in 2019.
Kyrgyzstan Economy Data
5 years of Kyrgyzstan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||68.30||0.0 %||Jul 13|
|Stock Market||0.2||0.0 %||Jul 09|
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