BISHKEK, April 12 (Xinhua) -- The World Bank has projected an economic slowdown in Kyrgyzstan in 2022 due to the situation in Ukraine.
The spillovers of the ongoing conflict between Russia and Ukraine have significantly worsened the outlook for the Kyrgyz economy, which is projected to contract by 5 percent in 2022, the World Bank said in its latest Economic Update for the Europe and Central Asia region.
Meanwhile, the World Bank projected 3.2 percent growth in 2023 and 4 percent in 2024 for the Kyrgyz economy, assuming the conflict stabilizes and continued growth in public investment.
The impact of sanctions on Russia may sever a vital lifeline for Kyrgyz households, which rely on remittances from Russia, the bank said, adding that the government's anti-crisis measures, such as increased pensions and wages for government officials and social assistance, will partly soften the negative impact. ■
