BAKU, Azerbaijan, September 30. Fixed capital
investment in Kyrgyzstan increased by 58.8% year on year in
January-July 2026, largely directed towards transport, mining and
energy infrastructure projects, the European Bank for
Reconstruction and Development (EBRD) said in its September
Regional Economic Prospects report.
"Fixed capital investment rose by 58.8% year on year, largely
directed towards transport, mining and energy infrastructure
projects," the statement said.
Construction output increased by 60.6% year on year during the
same period, reflecting continued infrastructure development and
strong investment activity.
Manufacturing growth also remained robust at 11.8% year on year
despite declining textile production and electricity
generation.
Against this backdrop, Kyrgyzstan’s real GDP increased by 11.1%
year on year in January-July 2026, while the EBRD projects economic
growth at 8.7% for 2026 and 7% for 2027.
Trend estimates
suggest that strong investment activity could remain one of the
main drivers of Kyrgyzstan’s economic expansion in the coming
years. If the current momentum is sustained, fixed capital
investment could increase by around 15%–20% annually in 2027–2029,
supported by continued spending on transport, mining and energy
infrastructure.
Moreover, Trend’s
calculations indicate that the construction output could also
maintain double-digit growth, potentially expanding by around
10%–15% annually over the same period as infrastructure projects
move into active construction and commissioning stages. Continued
investment in energy and transport could gradually expand
productive capacity and strengthen the contribution of these
sectors to overall economic activity.
Manufacturing could grow by around 7%–10% annually in 2027–2029,
provided investment in infrastructure improves access to energy and
transport capacity. Taken together, sustained investment and
construction activity could help keep Kyrgyzstan’s real economic
growth at around 6.5%–7.5% annually in the medium term.
