Kyrgyz GDP growth hit 3.4 percent

Kyrgyz GDP growth made up 3.4 percent, and reached 114.3 billion soms in January-August 2009, the Kyrgyz Finance Ministry says.

The real GDP growth decreased by 3.1 percent compared to the same period of 2008.

Real economic growth excluding Kumtor mining enterprises averaged to 3.9 percent (5.8 percent in January-August 2008), while the production increase has been traced in agriculture (9 percent growth), services sector (4 percent) and construction sphere (24.1 percent).

Industrial products’ output has decreased by 12.7 percent for the same period. A 14.7 percent decline has been traced in the industrial sector excluding Kumtor. Processing industry has also faced a 13.9 percent decrease of growth rates, while a 10.2 percent decline was registered in the energy sector. The mining sector otherwise experienced 5.2 percent growth.

Increase in trade, car, household devices and appliances’ services came to 3.5 percent for the period. Growth of hotels and restaurants’ services wend down to 4.9 percent in 2009 (10.1 increase in 2008).

Transport services continue to retain positive tendency. So, volume of passengers’ transportations grew by 6.7 percent in January-August 2009, while the amount of transported cargos increased by 3.5 percent for the period.

Level of capital investments’ assimilation increased by 29.6 percent comparing to 2008. At least 18.6 billion of capital investments have been practically assimilated for the mentioned period.