Kyrgyzstan Economic Outlook
September 3, 2019Booming activity at the Kumtor gold mine and a robust manufacturing sector kept the economy growing at an impressive stride in January–July. On the downside, the agricultural, forestry and fishing sector remained subdued in the first seven months of the year, while the supply of electricity, gas, steam and air conditioning shrank in the same period, capping the pace of expansion. Meanwhile, expenditure-based national accounts for the first half of the year showed strong growth in fixed investment, while a faster rise in wages in the period likely shored up private consumption amid muted price pressures. The external sector also contributed positively to the outturn, as export growth was resilient to rising headwinds while imports fell. On the political front, former president Almazbek Atambayev was charged with murder and plotting a state coup on 13 August; his arrest has sparked clashes between the police and supporters.
Kyrgyzstan Economic GrowthThe economy is set to gain traction this year on buoyant gold mining production, aided by new investments. Despite a slowdown in global activity, the external sector is seen contributing positively to the print on a surge in export growth. Downside risks to the outlook stem from weakness in Russia derailing remittances and volatile commodity markets. Our panel expects growth of 3.9% in 2019, which is unchanged from last month’s forecast, and 4.0% in 2020.
Kyrgyzstan Economy Data
5 years of Kyrgyzstan economic forecasts for more than 30 economic indicators.
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