Kyrgyz Republic: Economy | Asian Development Bank

Kyrgyz Republic: Economy

Strong performance in gold mining and trade overcame an early slump to bring 3.8% expansion in 2016. Currency appreciation and higher remittances curbed inflation and the current account deficit. Growth is projected to slow to 3.0% in 2017 before recovering to 3.5% in 2018 with faster regional growth. Higher inflation and a wider current account deficit are likely. Eurasian Economic Union membership poses both challenges and opportunities. Read more from Asian Development Outlook 2017


Economic forecasts for Central Asian countries

Country 2017f 2018f
Armenia 2.2 2.5
Azerbaijan –1.1 1.2
Georgia 3.8 4.5
Kazakhstan 2.6 2.9
Kyrgyz Republic 3.0 3.5
Tajikistan 4.8 5.5
Turkmenistan 6.5 7.0
Uzbekistan 7.0 7.3
Average 3.2 3.8
Country 2017f 2018f
Armenia 1.2 1.8
Azerbaijan 9.0 8.0
Georgia 4.2 4.5
Kazakhstan 8.0 7.0
Kyrgyz Republic 5.0 4.0
Tajikistan 8.0 7.0
Turkmenistan 6.0 6.0
Uzbekistan 9.5 10.0
Average 8.1 7.4
Country 2017f 2018f
Armenia –2.3 –2.0
Azerbaijan 5.9 11.4
Georgia –12.0 –11.5
Kazakhstan –3.4 –3.0
Kyrgyz Republic –13.0 –13.5
Tajikistan –5.5 –6.0
Turkmenistan –15.0 –13.0
Uzbekistan 0.2 0.4
Average –3.0 –1.7

f = forecast number.

Source: Asian Development Outlook 2017