By 2025, Kyrgyzstan had overcome the consequences of the 2020 crisis, achieving a GDP of 1.98 trillion soms, which is more than three times the level of five years ago. The real growth in 2025 was 11.1%, making the country one of the fastest-growing economies in the region, especially against the backdrop of the decline observed at the beginning of the decade.
The construction sector became an important indicator of these changes. After a sharp decline in 2020, construction began to develop confidently, with gross output in 2025 reaching 438.5 billion soms, which is 21% more compared to 2024. This pertains not only to residential construction but also to infrastructure projects such as roads and energy stations, indicating significant capital investments.
Investments in fixed capital also showed positive dynamics. In 2020, they sharply decreased, but by 2025 exceeded 280 billion soms, demonstrating double-digit growth and indicating the formation of a full-fledged investment cycle.
Financial Stability: Reserves and Gold
A key aspect of macroeconomic stability was the increase in external reserves. Kyrgyzstan's gross international reserves grew from approximately $3 billion in 2020 to over $7 billion by September 2025, with a projected exceedance of $8 billion by the end of the year. This significantly strengthens the country's protection against external economic shocks.
Gold played an important role in this process. By 2025, gold reserves in Kyrgyzstan were estimated at 50-52 tons, worth about $3.5–3.8 billion at market prices. The share of gold in the reserves reached about two-thirds, which strengthens the country's financial stability against currency and geopolitical risks. In the early 2020s, such a structure would have been incredible, as reserves were less diversified.
The economic changes were accompanied by significant diplomatic progress. In 2025, Kyrgyzstan and Tajikistan signed an agreement on border delimitation, which allowed for the closure of one of the sharpest sources of regional instability. This agreement paved the way for reducing the risks of conflict escalation in the south of the country and improving conditions for trade and logistics, which also increased investment predictability. A similar process was implemented with Uzbekistan.
From the perspective of international partners, this became a signal of Bishkek's readiness to address complex issues through diplomatic means, avoiding "frozen" conflicts.
Kyrgyzstan in a Changing World: Connectivity and Energy
The five-year tenure of Japarov coincided with a global restructuring of trade and logistics chains. Central Asia began to be viewed as an important connectivity hub, and Kyrgyzstan is gradually integrating into this system, acting as a transit corridor and participant in long-term energy projects.
The five-year period demonstrates a sharp contrast: Kyrgyzstan in 2020 faced economic decline and investment paralysis, while 2025-2026 shows double-digit GDP growth, an actively developing construction sector, and record reserves with a high gold content, as well as a noticeable contribution to regional stability.
However, the main challenge lies ahead. The results achieved were made possible by political will and centralized management. The next stage will show whether it is possible to institutionalize these achievements, embedding them within frameworks that ensure income growth for the population and investment stability, regardless of political changes.
At the same time, the five-year presidency of Sadyr Japarov allows for a cautious conclusion that the country, which many considered doomed in 2020, has managed to regain control over its development. The question of whether Kyrgyzstan can maintain this course will be key in the next decade.
The adoption of the Development Strategy of the Kyrgyz Republic until 2030 marks a transition from crisis management to long-term planning. If this strategy is implemented consistently under the current leadership, sustainable economic growth, strengthening of institutions, and investment activity can become permanent rather than temporary phenomena. Given current trends, Kyrgyzstan is capable not only of maintaining its positions but also of reaching the level of dynamically developing and stable states, allowing it to take a leading position in the region.
The article from the Georgian news agency was responded to by the Ambassador of Kyrgyzstan to France, Sadik Sher-Niyaz, who noted:
“In diplomatic circles, we often joke that we have a special relationship with our Georgian colleagues. I tell them that the Kyrgyz, like Central Asians, defended Moscow on the Volokolamsk highway during World War II, to which they respond that the Georgians raised the banner of Victory. They take pride in their mountains, and I respond that we have hills. If you want to see real mountains, come to Kyrgyzstan. This joke reflects the competitive nature of our relations.
Moreover, in a recent issue of Bloomberg, one of the most influential publications in the world, Kyrgyzstan is compared to a tiger preparing to leap, which is of great significance for our country.
Such articles shape the image of the country and build trust among investors. Accurate assessments of a stable and secure region contribute to attracting business.
Articles that appear in the foreign press are based on deep analytical research, and experts have been monitoring the development of our economy for several years. Everyone understands that Kyrgyzstan is on the brink of a new stage of development, which is certainly encouraging.
It is very pleasant to see that such materials are published in Georgia, recognizing and noting the positive changes in our country,” concluded Sadik Sher-Niyaz.
