BAKU, Azerbaijan, September 30. Fixed capital investment in Kyrgyzstan increased by 58.8% year on year in January-July 2026, largely directed towards transport, mining and energy infrastructure projects, the European Bank for Reconstruction and Development (EBRD) said in its September Regional Economic Prospects report.
"Fixed capital investment rose by 58.8% year on year, largely directed towards transport, mining and energy infrastructure projects," the statement said.
Construction output increased by 60.6% year on year during the same period, reflecting continued infrastructure development and strong investment activity.
Manufacturing growth also remained robust at 11.8% year on year despite declining textile production and electricity generation.
Against this backdrop, Kyrgyzstan’s real GDP increased by 11.1% year on year in January-July 2026, while the EBRD projects economic growth at 8.7% for 2026 and 7% for 2027.
Trend estimates suggest that strong investment activity could remain one of the main drivers of Kyrgyzstan’s economic expansion in the coming years. If the current momentum is sustained, fixed capital investment could increase by around 15%–20% annually in 2027–2029, supported by continued spending on transport, mining and energy infrastructure.
Moreover, Trend’s calculations indicate that the construction output could also maintain double-digit growth, potentially expanding by around 10%–15% annually over the same period as infrastructure projects move into active construction and commissioning stages. Continued investment in energy and transport could gradually expand productive capacity and strengthen the contribution of these sectors to overall economic activity.
Manufacturing could grow by around 7%–10% annually in 2027–2029, provided investment in infrastructure improves access to energy and transport capacity. Taken together, sustained investment and construction activity could help keep Kyrgyzstan’s real economic growth at around 6.5%–7.5% annually in the medium term.
