Kyrgyzstan now among “fast-growing economies” in Europe and Central Asia
- 15 November, 07:29
Central Asian republic of Kyrgyzstan has entered the list of “rapidly developing economies” in Europe and Central Asia, Chairman of the country’s Cabinet of Ministers Akylbek Zhaparov said on Wednesday.
Addressing the Parliamentary session discussing the national budget on Wednesday, Zhaparov said the consolidated budget for 2023 approved by the Parliament, increased 2.5 times in two years, reaching KGS 577.2 billion.
Zhaparov said tax service reported a collection of KGS 183 billion this year, which is an increase of KGS 28.3 billion compared to 2022. Additionally, the Customs Service generated KGS 111.5 billion, representing a rise of KGS 37.2 billion from the previous year.
For the first ten months of 2024, growth was recorded at 9.6%, and when excluding Kumtor [gold mine], the growth rate reached 10.8%.
According to estimates, Kyrgyzstan’s GDP will increase by 9.2% by year-end. In 2023, the economy surpassed the significant milestone of KGS 1.3 trillion, and this year, it is anticipated to exceed KGS 1.5 trillion, as stated by the head of the Cabinet.
It should be noted that thos dynamic development of the Central Asian nation was also praised by United Nations Secretary-General António Guterres in July this year. During the meeting with Kyrgyz President Sadyr Japarov, Guterres said Kyrgyzstan had transitioned from being a "sleeping beauty" to a "rushing horse."
