IMF worsens Kyrgyzstan's 2023 GDP growth, inflation outlook

BISHKEK. Oct 10 (Interfax) - The International Monetary Fund has lowered its 2023 GDP growth forecast for Kyrgyzstan to 3.4% from 3.5%, the IMF said in its latest World Economic Outlook.

The 2024 outlook was improved from 3.8% to 4.3%.

The inflation outlook for 2023 was raised to 11.7% from the 11.6% the IMF was forecasting in April, and the 2024 forecast was revised to 8.6% from 7.8%.

The baseline scenario approved by the government is for GDP to grow 4.5% in 2023. The National Bank of Kyrgyzstan predicts that the republic's GDP growth in 2023 will be about 4%, decreasing to 3.5% in 2024. Inflation could be 10%-12% in 2023 and 8.9% in 2024.

GDP grew 7% and inflation was 14.7% in 2022.