Kyrgyzstan enters ranks of “fast-growing economies” in Europe and Central Asia

According to the World Bank's assessment of real GDP growth rates for 2024, Kyrgyzstan has become one of the leading countries among the “rapidly developing economies” in Europe and Central Asia, Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Zhaparov said during the consideration of the national budget on Wednesday, Kabar reports. 

He noted that the consolidated budget for 2023 approved by the Parliament amounted to KGS 577.2 billion and increased 2.5 times in two years.

“The tax service collected KGS 183 billion, which is KGS 28.3 billion more than in 2022. The Customs Service earned KGS 111.5 billion, or 37.2 billion more than in 2022.

According to the indicator for the 10 months of 2024, the growth amounted to 9.6%, excluding Kumtor, the growth amounted to 10.8%. When Secretary General of the United Nations António Guterres came to visit in the summer, he did not say for nothing that Kyrgyzstan used to be a “sleeping beauty”, but now it has turned into a “rushing horse”. At the end of the year, we believe that GDP will grow by 9.2% with a conservative forecast. In 2023, our economy exceeded the historical mark of KGS 1.3 trillion, and this year we will overcome the mark of KGS 1.5 trillion,” the head of the Cabinet said.