Price and Inflation Situation
The National Bank analyzed the current state of both the global and national economy and concluded that external economic conditions remain challenging and full of uncertainty.In the regulator's statement, it is emphasized: "The prospects for price dynamics depend on the stability of global supply chains and trade flows, which may be threatened by geopolitical tensions and the fragmentation of the global economy. Therefore, it is necessary to adhere to a balanced approach in monetary policy to maintain price stability in the country."
As of February 13, 2026, inflation stood at 1.8% (annualized at 9.6%). Overall, price dynamics are within expected ranges, although there is heterogeneity among the main components of the consumer basket.
Economic Growth and GDP
According to the data from the National Bank of the Kyrgyz Republic, the country's economy is demonstrating high growth rates. In January 2026, real GDP increased by 9%. Active growth continues to be observed in the services sector and construction. A high level of investment in fixed assets contributes to the development of infrastructure projects. Additionally, the increase in real incomes of the population and the growth of consumer lending stimulate domestic demand, creating additional inflationary risks.The National Bank also reports on the stability of the domestic currency market, noting that currency interventions are conducted only to smooth out sharp fluctuations in the exchange rate.
The banking sector continues to demonstrate resilience: in 2025, the volume of deposits increased by 46.2%, reaching 865.9 billion soms, while the loan portfolio of commercial banks grew by 48.8%, amounting to 507 billion soms.
