The gross domestic product (GDP) of Kyrgyzstan is anticipated to exceed KGS 1.4 trillion ($15.9 bn) in 2024, according to forecasts of the Ministry of Economy and Commerce. The Chairman of the Cabinet of Ministers, Akylbek Japarov, relayed these projections during a meeting of the board of the Presidential Executive Office, asserting a forecasted real GDP growth rate of 6%. While Inflation has shown a marked improvement, decreasing from 13.9% to 10.8% in 2023.
From a historical viewpoint, Kyrgyzstan's economic trajectory has been mixed, and characterized by substantial fluctuations. Beginning with a growth rate of 4.3% in 2016, it peaked at 6.3% in 2022 due to various stimulative measures. The country faced a notable economic downturn in 2020 with a -7.1% contraction, largely attributed to external economic shocks. Despite these challenges, the economy recovered to a growth rate of 4.2% in 2023, with the International Monetary Fund projecting stable future growth rates of 4.4% and 4.2% for 2024 and 2025, respectively.
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