World Bank Highlights Key Steps For Kyrgyz Growth

(MENAFN- Trend News Agency)
BISHKEK, Kyrgyzstan, June 13. The World Bank
(WB) suggests that Kyrgyzstan should roll up its sleeves and get
down to brass tacks to boost its economy. By greasing the wheels
for starting and running businesses, fostering a level playing
field, and rolling out the red carpet for foreign investment, the
country can really hit the ground running, Trend reports via the
World Bank’s latest Country Economic Memorandum (CEM).

The bank’s report highlights that complicated regulations and
weak competition are holding back economic growth and job
creation.

It also advises the government to reduce trade barriers, improve
logistics, and strengthen cooperation with neighboring countries to
open new market opportunities. Additionally, the WB emphasizes the
importance of better education and training to equip workers with
skills needed for today’s industries.

The report points out that while Kyrgyzstan’s economy has grown
steadily in recent years, much of the growth relies on mining and
extractive industries, which limits job opportunities and
productivity gains. Many workers remain employed in informal,
low-paying jobs, making it crucial for the country to diversify its
economy and create more formal, well-paying employment.

The analysis indicates that incremental adjustments will be
insufficient-these transformations must be synergistically
implemented to foster enhanced employment opportunities, broaden
the economic spectrum beyond extractive industries, and secure
sustainable growth trajectories for Kyrgyzstan.

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