BAKU, Azerbaijan, October 26. The International
Monetary Fund (IMF) has raised its forecast for Kyrgyzstan’s real
gross domestic product (GDP) growth in 2026 to 9%, up from 6.1%
projected in April.


This is according to the IMF’s Regional Economic Outlook:
Steering Through Uncertainty: Strengthening Resilience in
Challenging Times.


According to the IMF’s October 2026 projections, Kyrgyzstan’s
economy is expected to grow by 7% in 2027, compared with the 6.1%
forecast in April.


The IMF’s growth estimate for 2025 remains unchanged at 11.1%.
Meanwhile, its forecast for 2031 has been revised upward to 5.3%
from 5.2%.


The report notes that the Kyrgyz Republic continues to record
the strongest economic growth in the Caucasus and Central Asia
(CCA) region.


According to the IMF, the growth forecasts for CCA oil-importing
economies in 2026 have been revised upward by 1.5 percentage
points, driven in part by developments in Georgia, the Kyrgyz
Republic, Tajikistan and Uzbekistan.


Strong investment, remittances, and financial and capital
inflows are expected to help these economies offset the negative
effects of ongoing conflicts.







However, the IMF also highlights inflationary pressures in the
region. Inflation in the Kyrgyz Republic has reached approximately
12%, the highest rate among the countries covered in the regional
assessment.


Furthermore, in Uzbekistan and Kazakhstan, inflation has
continued to decline from previously elevated levels, supported by
base effects, tight monetary conditions and the appreciation of
their currencies against the US dollar.


In Kazakhstan, the currency appreciation has been supported by
strong capital inflows and high oil prices, according to the
report.


Trend estimates
that Kyrgyzstan’s economy is expected to maintain strong growth in
2027, although the pace of expansion may moderate amid persistent
inflationary pressures and external economic risks. The
International Monetary Fund (IMF) projects real GDP growth of 7% in
2027, while the Asian Development Bank forecasts 8.4%, reflecting
differences in their assessments of domestic demand, investment and
external conditions. Infrastructure projects, remittances and
capital inflows are likely to remain key growth drivers.


However, inflation, potential changes in regional trade flows
and a possible slowdown in re-export activity could weigh on the
outlook. Sustaining rapid economic growth over the longer term will
depend on strengthening private investment, diversifying the
economy, improving productivity and maintaining macroeconomic
stability.