Kyrgyz Republic. Recent social and economic trends and short-term prospective. September 2019.
In 2018, Kyrgyzstan's GDP grew by 3.5%, driven by consumer demand, which was supported by the inflow of remittances. At the same time, compared to the previous year, economic growth slowed down on the back of consolidation of public capital expenditures. Inflation remained well below the target of the National Bank favored by a good harvest. In 2018, budget deficit significantly declined to 2.1% of GDP as compared to 5.8% of GDP a year earlier, driven by both expenditure reduction and revenue growth. According to EFSD estimations, the growth rate of the Kyrgyz economy is expected to accelerate to 3.8% in 2019 driven by continued growth of gold production. At the same time, there are short-term macroeconomic risks associated with public finance and exchange rate management.
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