Kyrgyzstan Economic Outlook
September 8, 2020Incoming data paints a bleak picture for the Kyrgyz economy. GDP plummeted 6.1% year-on-year in the January to July period, as coronavirus containment measures weighed on construction and services activity. Moreover, remittances, which make up almost 30% of GDP, dropped sharply in the first half of the year overall, reflecting lockdowns abroad and the weak global economy. That said, they improved notably in June amid the easing of lockdown measures, suggesting that the situation is improving. The pandemic has put pressure on the fiscal and current account deficits as government revenues evaporate, forcing authorities to look for international help to avoid a crisis. In August, the Asian Infrastructure Investment Bank approved a USD 50 million loan and the Eurasian Fund for Stabilization and Development greenlighted a USD 100 million loan to counter the fallout from Covid-19.
Kyrgyzstan Economic GrowthGDP is seen recording the largest contraction since 1996 this year due to the coronavirus pandemic and associated restrictive measures. Depressed remittance inflows will dent household incomes, while subdued external demand will hurt exports. FocusEconomics panelists forecast GDP to contract 4.6% in 2020, which is unchanged from last month’s estimate. For 2021, the panel sees GDP growth at 5.2%.
Kyrgyzstan Economy Data
5 years of Kyrgyzstan economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Exchange Rate||69.66||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.