The banking sector contributed almost 1% to Kyrgyzstan's GDP growth in 2025

The banking sector is strengthening its influence on the Kyrgyz economy. In 2025, financial intermediation and insurance contributed almost 1 percentage point to GDP growth out of a total growth of 11%.

This was stated by Nurbek Tashbekov, head of the political and economic research department of the Kyrgyz presidential administration, during a business breakfast organized by the Russian-Kyrgyz Development Fund.

"If we look at the contribution of the banking sector to GDP, it is reflected in the services sector under the category of financial intermediation and insurance. Its share in the GDP structure has grown from 4% to 7%. The contribution of financial intermediation to GDP growth has increased from 0.1% to 0.8%. In other words, of the 11% GDP growth in 2025, almost 1% was provided by the financial sector", — he noted.

According to him, over the past four years, GDP has grown almost 2.5 times, and the average annual real growth rate was 10.2%. In 2030, it is expected to reach $35 billion. GDP per capita has already exceeded $3,000 and is expected to reach at least $4,500 by 2030, which will allow the country to move into the category of upper-middle-income countries according to the World Bank classification.

At the same time, the structure of the banks' loan portfolio remains skewed towards consumer loans and trade.

“More than half of the loan portfolio is made up of consumer loans and trade, which are mainly directed towards the service sector. The four vectors of development defined in the program account for about 25% of the portfolio” , — Tashbekov emphasized.

He added that the state expects banks to participate more actively in financing the real sector, including industry, agriculture, tourism, and green energy.

Among the planned measures are changes to the legislation on collateral with the possibility of using intellectual property as collateral, the development of guarantee mechanisms, the expansion of preferential lending programs, and the launch of export contract insurance instruments.

“The state is ready to consider constructive proposals for new instruments and, if necessary, improve the regulatory framework to stimulate long-term investment”, —  said a representative of the presidential administration.

Thus, with the economy continuing to grow, the transformation of the banking model from consumption-oriented to investment-oriented is becoming a key condition for achieving the goals set for 2030.