The impact of factors on GDP in Kyrgyzstan

Kyrgyz National Agrarian University named after K.I. Skryabin, Bishkek, Kyrgyzstan

¹ Corresponding author: azimajeirenova@mail.ru

Abstract

The purpose of the article is to show the negative impact of the COVID-19 on GDP (Gross Domestic Product) growth in Kyrgyzstan. The research methodology is based on the works of domestic scientists and information and analytical reviews regarding GDP in Kyrgyzstan. An analysis was made of GDP growth after the country′s accession to the EAEU (Eurasion Economic Union). Our country sought to join this union, and as it turned out, not in vain. The positive results from the performance in the EAEU are shown, especially for such a macroeconomic indicator as GDP. The negative impact of the COVID-19 pandemic on GDP in Kyrgyzstan and in other countries has been revealed. The consequences of the pandemic have been devastating for almost all countries. An analysis was made of the decline in GDP during the pandemic in Kyrgyzstan. Measures are given to ensure positive dynamics of the economic growth, such as the creation of favorable conditions for entrepreneurship; improving the business and stimulating investment activity; creating conditions for increasing productivity in the real sector of the economy; strengthening foreign trade relations and developing the domestic market. The obtained scientific results can be used in the program to improve the economic situation in the country.