Price Monitoring for Food Security in the Kyrgyz Republic, Issue 26 | 23 September 2020

Situation Report
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SITUATION UPDATE: Since March 2020, the COVID-19 global pandemic and its resulting negative impacts on the global economy have led to a recession in the economies of many countries, including the Kyrgyz Republic. In addition, the recent political instability is likely to further contribute to the deterioration of the economy. At the same time, the situation in regard to COVID19 worsened in the country in October 2020 (rising to 549 COVID-19 cases on 21 October). Compared to the same period last year, the Kyrgyz Republic’s GDP decreased by 6 percent totaling 400 billion Kyrgyz soms. Negative trends were observed in construction, wholesale and retail trade economic sectors. Compared to the same period of the last year, the largest share (44.8 percent) of GDP fell within the goods production sectors, including processing industries (22.3 percent), agriculture (15.4 percent) and construction (7.1 percent). Compared to the same period last year, the Consumer Price Index (inflation) increased by 5.6 percent for all goods and services and by 11 percent for staple foods (cereals, meat, fish, milk and dairy products, fruits and vegetables). The Government continues to monitor and stabilize food markets across the country through establishing price controls on 11 essential food items and regulating imports and exports volumes.