According to the results of the first seven months of this year, the economy grew by 11.7%. This was announced today on Birinchy Radio by Daniyar Amangeldiev, First Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan.
According to him, Kyrgyzstan's economy has been showing steady growth in recent years. The average economic growth rate is around 9%. In the first seven months of this year, the economy grew by 11.7%, and the Gross Domestic Product reached 860 billion som. Overall, the performance is quite good. In the same period last year, the growth rate was 8%.
"In recent years, our industrial production has increased output and is showing good results. According to the results of the first seven months, the growth rate was 11.4%. The construction sector is also performing well. The record growth rate was almost 38%, which is undoubtedly due to the President's "Menin Uyum" programme and the development of urban infrastructure. I believe that our citizens can see the progress in construction, renovation, and restoration projects not only locally but also throughout the country. Investments in equity exceeded about 141 billion som in the first 7 months. The growth was about 33.4%. These are very serious and colossal indicators. Some of the investments were provided by domestic sources. Their growth was as much as 52%. This shows that business and the population believe in our economy and invest in its development. I think that the economic environment is quite favourable today. Real incomes of the population are growing. In addition, we see that consumption is also growing, which is undoubtedly a driver of increased domestic demand," Amangeldiev said.
The First Deputy Prime Minister emphasised that the service sector plays a crucial role in the country's economy. Kyrgyzstan's economy is becoming a service-oriented economy, with a 23% increase in retail trade. The transportation sector is also performing well, with a 9% increase in passenger transportation. Additionally, there has been a significant increase in the service sector, with a 29% increase in hotels and restaurants. "This is a significant achievement. I believe it is due to the revival of tourism in the country. As you know, the President has placed a strong emphasis on improving the quality of services. The Presidential Administration has been tasked with reconstructing all the country's health resorts, and the President has also set the task of monitoring and studying new mineral deposits to build new health resorts there," he said.
Reported by Kabar (Kyrgyzstan).
