ADB: Kyrgyz Republic's GDP expected to grow by 3.5% in 2021 and 5.0% in 2022

AKIPRESS.COM - The Kyrgyz Republic's GDP is expected to grow by 3.5% in 2021 and 5.0% in 2022, according to ADB's Asian Development Outlook (ADO) 2021.
The Kyrgyz Republic's economy is expected to recover slowly in 2021 before accelerating in 2022 as borders reopen and supply chains reactivate, according to a new Asian Development Bank (ADB) report.
Inflation is expected to accelerate to 7% in 2021 and 2022, with food inflation remaining high due to the continued effect of currency depreciation and the slow recovery of supply chains. The central bank is expected to maintain its focus on price stability and intervene in currency markets only to smooth volatility.
Healthy gold exports are expected to push total export growth to 5% in 2021 and 2022. Meanwhile, imports could increase by about 10% this year and next, as delayed infrastructure projects resume. Remittances will likely recover further by about 5% in both years, assuming a recovery in the region, especially the Russian Federation.