Kabar. Chairman of the Cabinet of Ministers of the Kyrgyz Republic - Head of the Presidential Administration of the Kyrgyz Republic Akylbek Zhaparov held a meeting of the Coordinating Council for Macroeconomic and Investment Policy under the Cabinet of Ministers of Kyrgyzstan.

During the meeting, the main macroeconomic scenarios for the development of the Kyrgyz Republic were discussed, as well as the report of the Minister of Economy and Commerce was heard.

Akylbek Zhaparov noted that in the context of economic instability and uncertainty, some international institutions had previously predicted a fall in the gross domestic product of the Kyrgyz Republic (the World Bank - by 5.0%, the International Monetary Fund - a slowdown to 0.9%).

“Despite these forecasts, the growth rate of the national economy showed a positive trend throughout the reporting period. At the end of 2022, the country's GDP, according to preliminary statistics, amounted to 919.4 billion soms, the real growth rate was 107.0%. We have confidently approached the mark of 1 trillion soms,” he said.

The head of the Cabinet added that this year the International Monetary Fund revised the forecast for economic growth in the Kyrgyz Republic from 3.2% to 3.5% in 2023 and 3.8% in 2024. The World Bank also improved its forecast for the domestic economy (for 2023, growth is forecast at 3.5% instead of the previous 3.4%, for 2024, growth is forecast at 4%).

Following the meeting, it was decided to support the proposed baseline scenario for the socio-economic development of the Kyrgyz Republic for the medium term (2024-2028), according to which the economic growth rate for 2023 is expected to be 104.5%.

The Coordinating Council for Macroeconomic and Investment Policy under the Cabinet of Ministers of the Kyrgyz Republic, established in April 2022, is a consultative and advisory body that ensures the adoption of coordinated decisions on the development and implementation of macroeconomic and investment policy.