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Kyrgyz Republic Biannual Economic Update, Fall 2015: Resilience Amid Turbulence

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2015-11-10T22:10:17Z
dc.date.available2015-11-10T22:10:17Z
dc.date.issued2015-10
dc.description.abstractGDP grew at a rate of 6.8 percent, year-on-year (y/y), between January and August, boosted by frontloaded gold production and a strong performance of the agricultural sector. Gold output grew by 46 percent (y/y), while the non-gold GDP growth rate reached 4.5 percent, up 0.9 percentage points from the same period in the previous year. However, gold production is projected to decelerate markedly during the remainder of 2015, while increasingly adverse external conditions and exchange-rate developments are expected to depress domestic consumption and private investment, as well as foreign demand. As a result, the overall growth rate for 2015 is projected to slow to 2 percent. As of August the headline inflation rate had fallen to 5.8 percent (y/y) from 10.5 percent at end-2014, but the combined effect of higher public spending and exchange-rate pressures are expected to drive up prices during the final months of the year, underscoring the importance of maintaining a tight monetary stance. Looking beyond 2015, the Kyrgyz economy is projected to recover over the medium term, and public finances are expected to stabilize, but this generally positive outlook is subject to significant downside risks. In the baseline scenario, growth is projected to accelerate to 4.2 percent in 2016, driven by higher gold production and an expected acceleration in regional economic activity. Growth in the non-gold sectors should be relatively robust at around 3.7 percent, but a slower-than-anticipated recovery in Russia and Kazakhstan could threaten this projection. Moreover, slower growth in both the domestic and regional economies could complicate the process of fiscal consolidation.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/11/25256017/kyrgyz-republic-biannual-economic-update-resilience-amid-turbulence-special-focus-meeting-jobs-challenge
dc.identifier.doi10.1596/22951
dc.identifier.urihttps://hdl.handle.net/10986/22951
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectLIVING STANDARDS
dc.subjectMONETARY POLICY
dc.subjectDEFICIT
dc.subjectRISKS
dc.subjectCUSTOMS UNION
dc.subjectECONOMIC ENVIRONMENT
dc.subjectECONOMIC GROWTH
dc.subjectACCOUNTING
dc.subjectDEPOSITS
dc.subjectSTOCK
dc.subjectMARKET DEVELOPMENTS
dc.subjectINTEREST
dc.subjectDEPRECIATION
dc.subjectPUBLIC INVESTMENTS
dc.subjectIMPORT
dc.subjectFINANCIAL DISTRESS
dc.subjectDEBT STOCK
dc.subjectINTEREST RATE
dc.subjectREMITTANCE
dc.subjectEXCHANGE
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectBALANCE OF PAYMENTS
dc.subjectLIQUIDITY
dc.subjectDOMESTIC MARKET
dc.subjectTAX COLLECTION
dc.subjectACCESS TO BANK
dc.subjectINFRASTRUCTURE DEVELOPMENT
dc.subjectRECESSION
dc.subjectREVENUES
dc.subjectWORLD DEVELOPMENT INDICATORS
dc.subjectLOAN
dc.subjectTAX
dc.subjectDECLINE IN INVESTMENT
dc.subjectFOREIGN EXCHANGE MARKETS
dc.subjectINFLATION
dc.subjectPENSION
dc.subjectPOVERTY REDUCTION
dc.subjectMONETARY CONTROLS
dc.subjectBUDGET
dc.subjectBANK LENDING
dc.subjectCENTRAL BANK
dc.subjectFINANCIAL SECTOR INDICATORS
dc.subjectDOMESTIC CONSUMPTION
dc.subjectFOREIGN MARKETS
dc.subjectCUSTOMS DUTIES
dc.subjectLABOR MARKET
dc.subjectFISCAL POLICIES
dc.subjectTRADE BALANCE
dc.subjectOIL PRICES
dc.subjectINDEBTEDNESS
dc.subjectRE-EXPORTS
dc.subjectCURRENCY
dc.subjectEXPORT GROWTH
dc.subjectTOTAL IMPORT
dc.subjectCURRENT ACCOUNT
dc.subjectINCOME GROWTH
dc.subjectINFLATIONARY PRESSURES
dc.subjectFINANCES
dc.subjectGOLD
dc.subjectSURPLUS
dc.subjectMARKET DYNAMICS
dc.subjectRECURRENT EXPENDITURES
dc.subjectOPTIONS
dc.subjectFREE FLOAT
dc.subjectREGULATORY SYSTEM
dc.subjectMARKETS
dc.subjectBARRIERS TO ENTRY
dc.subjectDEBT
dc.subjectPRIVATE INVESTMENT
dc.subjectRETURN
dc.subjectDEFICITS
dc.subjectFINANCIAL FLOWS
dc.subjectINFLATION RATE
dc.subjectDOMESTIC DEBT
dc.subjectIMPORTS
dc.subjectDIRECT INVESTMENT
dc.subjectLOANS
dc.subjectRESERVES
dc.subjectRETURN ON ASSETS
dc.subjectFINANCE
dc.subjectPUBLIC INVESTMENT
dc.subjectTAXES
dc.subjectBANK BALANCE SHEET
dc.subjectEXPENDITURE
dc.subjectEQUITY
dc.subjectINCOME TAXES
dc.subjectEXCHANGE-RATE
dc.subjectCONSUMPTION
dc.subjectGOOD
dc.subjectTOTAL EXPORTS
dc.subjectGOVERNMENT BUDGET
dc.subjectDEBT-SERVICE
dc.subjectDOMESTIC LIQUIDITY
dc.subjectMARKET CONDITIONS
dc.subjectBUDGET SURPLUS
dc.subjectFUTURE
dc.subjectPENSIONS
dc.subjectIMBALANCES
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectDEMAND
dc.subjectINVESTMENT PROJECTS
dc.subjectPUBLIC EXPENDITURES
dc.subjectCONTRACT
dc.subjectECONOMY
dc.subjectDISBURSEMENTS
dc.subjectEXPENDITURES
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectBALANCE SHEET
dc.subjectREAL EXCHANGE RATE
dc.subjectMARKET
dc.subjectFOREIGN EXCHANGE
dc.subjectPUBLIC DEBT
dc.subjectTREASURY
dc.subjectCREDIT RISK
dc.subjectINSURANCE
dc.subjectBILL
dc.subjectOPEN MARKET
dc.subjectGOODS
dc.subjectSECURITY
dc.subjectREGISTRATION SYSTEM
dc.subjectDOMESTIC ECONOMY
dc.subjectGROWTH RATE
dc.subjectNATIONAL BANK
dc.subjectINVESTMENT
dc.subjectCOMMERCIAL BANKS
dc.subjectSHARE
dc.subjectEXCHANGE- RATE
dc.subjectPUBLIC FINANCES
dc.subjectPOVERTY
dc.subjectTREATY
dc.subjectUNCERTAINTY
dc.subjectREVENUE
dc.subjectEXTERNAL DEBT
dc.subjectPROFIT
dc.subjectINVESTMENTS
dc.subjectLENDING
dc.subjectRAPID GROWTH
dc.subjectEXCHANGE RATE
dc.subjectFISCAL DISCIPLINE
dc.subjectPUBLIC DEBT STOCK
dc.subjectREMITTANCES
dc.subjectPUBLIC SPENDING
dc.subjectCOMMODITY PRICES
dc.subjectDOLLAR VALUE
dc.subjectCURRENT ACCOUNT BALANCES
dc.subjectECONOMIES
dc.subjectCONSOLIDATION
dc.subjectINVESTING
dc.titleKyrgyz Republic Biannual Economic Update, Fall 2015en
dc.title.subtitleResilience Amid Turbulenceen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.disclosure2015-11-08
okr.date.doiregistration2025-05-07T11:20:50.158817Z
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2015/11/25256017/kyrgyz-republic-biannual-economic-update-resilience-amid-turbulence-special-focus-meeting-jobs-challenge
okr.guid504821468197333220
okr.guid559011468184733163
okr.identifier.externaldocumentum090224b08319f901_1_0
okr.identifier.internaldocumentum25256017
okr.identifier.report100763
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/T_MNA/2015/11/08/090224b08319f901/1_0/Rendered/PDF/Kyrgyz0Republi0g0the0jobs0challenge.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryKyrgyz Republic
okr.topicDebt Markets
okr.topicCurrencies and Exchange Rates
okr.topicEmerging Markets
okr.topicFinance and Financial Sector Development
okr.topicEnvironment
okr.topicPrivate Sector Development
okr.topicMacroeconomics and Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicEnvironment::Environmental Economics & Policies
okr.unitMacro Fiscal Mgmt - GP (GMFDR)
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