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Where is the Kyrgyz economy showing signs of overheating?

Published

06/01/2026, 16:13

Where is the Kyrgyz economy showing signs of overheating?

In Kyrgyzstan, several economic sectors recorded growth rates at the start of 2026 that stood out significantly from the overall trend. Construction and investment stand out the most—it is these sectors that are driving the ‘overheating’ effect in certain areas.

Investment in fixed assets rose by almost 70 per cent, reaching 128.6 billion KGS. Construction grew by around 73 per cent, becoming the fastest-growing sector. Such sharp growth usually indicates the simultaneous launch of a large number of projects – ranging from infrastructure to commercial property.

However, this strong growth does not appear to be uniform. There are dips in certain months, indicating the market’s fluctuating nature: major projects are launched and completed in bursts. Under such conditions, the sector becomes sensitive to financing and seasonality, and overheating manifests not as steady growth but as sharp spikes in activity.

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