According to the expert, Kyrgyzstan's economic success is due to the reforms carried out, which allowed the country to strengthen financial stability, revive industry and bolster the energy sector. The expert noted that the republic has gained a vision for the future, and clear development programs through 2050 have been drawn up.

Analysis of the country's economic path

Today's vantage point allows us to analyze how, in a relatively short period, Kyrgyzstan was able to achieve far greater and better results compared with the previous three decades.

Problems before the reforms

Before the start of the transformations, the country's economy developed within a paradigm of a spontaneous market. According to Nurbek Elebaev, a full-fledged competitive economy was not built, and by 2020 the country had reached the limit of the previous model, despite its formal status as an independent state with a market economy.

Key takeaways

From today's vantage point, when the results of the reforms and economic transformations have become obvious and beyond doubt, it makes sense to look back and analyze how, in 5–6 years, Kyrgyzstan was able to achieve far greater and better results than in the previous 30.
Former head of the State Service for Financial Market Regulation and the State Agency for Fuel and Energy Complex Regulation Nurbek Elebaev

Overall, the country is positioned as a leader in economic growth rates not only in Central Asia, but on a broader scale as well.