BAKU, Azerbaijan, June 19. Broad money growth
in Kyrgyzstan is expected to moderate in 2027 following several
years of rapid expansion, the International Monetary Fund (IMF)
says.
According to the IMF, broad money is projected to grow by 19.2%
at the end of 2027, down from 36.4% forecast for 2026.
The projections follow strong monetary expansion in recent
years. Broad money growth accelerated from 15% in 2023 to 31.9% in
2024 and is estimated to have reached 43.3% in 2025.
Compared with the estimated level for 2025, broad money growth
is projected to ease by 6.9 percentage points in 2026 and by a
further 17.2 percentage points in 2027.
Despite the expected moderation, the IMF's forecasts suggest
that money supply growth will remain relatively strong by
historical standards. The projected rate for 2027 would still
exceed the level recorded in 2023 by 4.2 percentage points.
The IMF noted that Kyrgyzstan has maintained strong economic
performance in recent years, supported by expanded trade flows,
robust remittance and capital inflows, and strong construction
activity backed by government spending.
At the same time, economic growth is expected to remain
resilient. Real GDP is projected to expand by 6.1% in 2026 and 5.8%
in 2027, following estimated growth of 11.1% in 2025.
The Fund also expects inflation to gradually ease over the
medium term, while emphasizing the importance of maintaining an
appropriately tight and data-dependent monetary policy stance.
