Kyrgyzstan's GDP grows
By Kamila Aliyeva
Kyrgyzstan's GDP increased by 5 percent for January-September 2017, while in the same period last year this figure was 1.5 percent.
This was stated by Economy Minister Artem Novikov at a government meeting, Kabar reported.
"The country's GDP since the beginning of the year amounted to 335 billion soms and the real growth of the economy was 5 percent, according to preliminary estimates. Without Kumtor enterprise, the growth rate makes 3.6 percent," he said.
Novikov informed that by the end of 2017, the economy growth is expected to be at the level of 3.6 percent, inflation - 5.7 percent.
"The actual growth of the economy today is 0.8 percent more than expected. This indicator is the highest among the country of the EAEU. In Russia, the economy grew by 2.2 percent, Kazakhstan - 4.3 percent," he added.
The minister in his report noted that there is an industrial growth in all regions of the country at the level of 7.9 percent, except for Naryn. There is a decline of 0.2 percent, according to Novikov.
"There is a significant downtime for 46 enterprises. In the construction sector, there is a failure to meet the forecast. Remittances to Kyrgyzstan increased by 26.3 percent in nine months," he said.
Kyrgyzstan's economy advanced 3.8 percent year-on-year in 2016, compared to 3.5 percent growth a year earlier. Industrial output increased by 4.9 percent, driven by metal ores, manufacture of refined petroleum products, food products and production of precious metals.
In 2016, the GDP growth has reached 3.8 percent. The forecasts say that the real GDP growth of Kyrgyzstan will be 2.9 percent in 2017. The risks which can affect the GDP growth in 2017 are instability of the global economy, dependence of the economy on world prices for gold and energy resources, risks for increase of inflation due to the growth of food prices and others.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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