BISHKEK, Kyrgyzstan, October 18. The World Bank (WB) has revised upward its forecast for Kyrgyzstan's real GDP growth in 2024 to 5.8 percent, which is an increase of 1.3 percentage points from its June estimations, Trend reports.
The outlook for 2025 has also been raised, with GDP growth now expected to reach 4.5 percent, up by 0.3 percentage points from earlier projections.
For 2026, the bank forecasts a stable growth rate of 4.5 percent - a 0.5 percentage point increase since June.
For comparison, Kyrgyzstan's GDP growth was 6.2 percent in 2023 and 9 percent in 2022.
In its broader analysis, the WB predicts that the economies of Central Asia will grow by 4.3 percent in 2024, a decline from last year's growth rate of 5.6 percent. In Kazakhstan, growth is expected to slow to 3.4 percent due to delays in the expansion of the Tengiz oil field project and tighter fiscal policies, down from 5.1 percent in 2023.
Economic growth estimates for other Central Asian countries have been revised upward by nearly 1 percentage point on average, driven by a revival in consumption, increased government spending, and continued support from remittances and trade with Russia.
However, despite these improvements, the expected GDP per capita growth in Central Asia for the current year is only 2.7 percent.