Inflation dynamics in Kyrgyzstan will depend on external factors, - National Bank

Яна Орехова Banknotes
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At a press conference on October 29, Deputy Chairman of the National Bank Azat Kozubekov stated that in the coming months, inflation in Kyrgyzstan will be influenced by external factors.

Kozubekov emphasized that the current state of the global economy remains uncertain, especially considering fluctuations in energy resource prices, including fuels and lubricants, as well as food prices.

"In light of these circumstances, it is necessary to exercise caution in monetary policy. Given that the National Bank is focused on long-term prospects, we have decided to set the discount rate at 10%," he noted.

This measure, according to Kozubekov, is aimed at maintaining price stability in the medium term and creating conditions for reducing inflation to the target level of 5-7%.

The National Bank will continue to analyze both external and internal factors affecting inflation and apply a balanced approach to monetary policy.
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