Coronavirus in Kyrgyzstan
Kyrgyzstan|economy|April 2, 2021 / 10:21 AM
Kyrgyz economy is projected to grow by 3.8 percent in 2021

AKIPRESS.COM - Growth in Kyrgyzstan is expected to rebound in 2021, but uncertainty remains high, said International Monetary Fund (IMF) staff team led by Mr. Nikoloz Gigineishvili after a remote mission.

Barring a resurgence of the pandemic, the economy is projected to grow by 3.8 percent in 2021 and by 6.4 percent in 2022, underpinned by a more favorable global outlook, recovery of domestic activity, higher gold production, an increase in remittances from oil exporting neighbors, and a rebound in tourism, transportation and related services.

Growth should gradually converge to its potential of 4 percent in the medium term.

Annual inflation will remain elevated in the coming months due to base effects but decline to about 7.4 percent by end-2021 and return to the central bank’s target range of 5-7 percent thereafter.

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