EDB expects a slowdown in Kyrgyzstan’s economic growth down to 1.5% in 2016

Almaty. September 22. Silkroadnews – This year EDB expects a slowdown in Kyrgyzstan’s economic growth down to 1.5%, “Macroeconomic overview” by the Eurasian Development Bank (EDB) says, KyrTAG writes.

“In 2016 the rates of Kyrgyzstan’s economic growth are expected to slowdown to 1.5% followed by stabilizing at the level of 3.2% in 2017-2018”, the analysts’ projections say.

According to the experts, weakening of economic activity among the major trading partners of the republic will result in a decline for both domestic and external demands for Kyrgyz goods. The projected 3.6% increase in the volume of remittances in 2016 will be reflected in the limited domestic consumer demand.

As reported by the EDB, the recession in Russia and slower economic growth in Kazakhstan will affect the volumes of Kyrgyz exports to these countries. In addition, the nominal volume of export proceeds will be formed against the background of weak growth of global gold prices.