Economic development in 2018 was in circumstances of uncertainty in the external environment – Ministry of Economy

Bishkek, Mar. 12, 2019. /Kabar/. GDP growth in Kyrgyzstan in January-December 2018 amounted to 557.1 billion soms, where the real growth rate was 3.5%, Deputy Minister of Economy of the Kyrgyz Republic Avtandil Alybayev told at a press conference at the Kabar News Agency.

He said that the economic growth is ensured by all sectors of the economy: in agriculture, the volume actually increased by 2.7%, in construction – by 7.8%, in the service sector – by 2.1%, in industry – by 5.5%.

“The development of the national economy during 2018 was in persisting circumstances of uncertainty in the external environment, such as persistence of geopolitical risks, instability in financial markets, ‘trade wars’, the volatility of world oil prices and the US dollar exchange rate, which had a certain impact through secondary channels,” Alybayev said.

Alybayev also noted that the country's foreign trade turnover amounted to $ 6 billion 672 million last year and increased by 6.6% compared to 2017, including exports amounting to $ 1 billion 764.6 million and it formed at the level of 2017.

“Also, according to last year’s results, the average monthly salary was 16 thousand 218 soms and increased by 5.4% compared with 2017,” Alybayev added.