Macroeconomic Forecast Kyrgyzstan

We forecast Kyrgyzstan's real GDP growth in 2012 at 4.9% and 5.2% in 2013, from 5.7% in 2011. We expect the slowdown in global economic growth - a result of ongoing uncertainty surrounding the eurozone sovereign debt crisis and the precipitous slowdown in Chinese economic output - to weigh on Kyrgyz export receipts. However, we expect ongoing infrastructure investment, particularly in the south of the country, to forestall a more substantial slowdown.

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