BISHKEK, Kyrgyzstan, April 10. The Asian Development Bank (ADB) emphasizes that Kyrgyzstan needs to strengthen the private sector to maintain high economic growth rates, Trend reports.
Although the country experienced impressive GDP growth averaging 9 percent between 2022 and 2024, ADB analysts believe this progress was largely driven by government initiatives and external factors rather than an active private sector.
The ADB argues that sustaining Kyrgyzstan’s economic growth and productivity requires a shift towards a more private sector-led model. Continued reliance on government spending and external influences is unsustainable, leaving the economy vulnerable to external shocks and fiscal pressures.
The transition to a more dynamic private sector is seen as crucial for achieving the government’s ambitious goal of a $30 billion economy by 2030, which would represent a 70 percent increase over current levels.
However, the ADB warns that the private sector faces significant structural barriers, including limited access to finance, inadequate infrastructure, and regulatory challenges, which hinder its growth potential and its ability to drive long-term economic development.
The ADB’s analysts highlight that overcoming these constraints is essential for ensuring Kyrgyzstan’s continued growth and stability, with effective reforms needed to unlock the private sector’s full potential.
The bank projects Kyrgyzstan's GDP growth to reach 8.5 percent in 2025 and 8.6 percent in 2026, which are the highest indicators among the Central Asian region.
