Bishkek, March 3, 2026 /Kabar/. Economic experts note that Kyrgyzstan is experiencing increased inflationary pressure. According to the Eurasian Development Bank, this is being driven by factors such as an increase in real wages (+9.9%) and an expansion of consumer lending (+67.2%). These conditions are driving increased domestic demand for goods and services, which is pushing up prices. As a result, inflation in the country has exceeded the target of 5-7%, reaching 9.6%.
In this situation, analysts believe the decision to raise the interest rate from 11 to 12% is justified. Economics and finance expert Sergei Ponomarev noted that the regulator used traditional tools to reduce inflationary pressure.
"We see that interest rates are being raised today even in developed market economies, as this is an effective tool capable of containing price growth.
Therefore, the National Bank's decision is correct. Raising the interest rate will slightly increase the credit burden, which will somewhat dampen consumer and business activity. At the same time, we expect inflation to slow and return to the target range. The most important thing is to use this tool in a timely manner; the economic situation was favorable," said Sergei Ponomarev.
As a reminder, the National Bank of the Kyrgyz Republic raised the interest rate by 100 basis points to 12% at its February meeting on February 24.