In January 2025, the volume of new loans issued by banks in Kyrgyzstan increased by 44% compared to last year. The main contribution to this growth was made by consumer lending, which accounted for almost three quarters of the total growth.

However, at the same time, lending in such sectors as industry (-72.3%), trade (-5%), social services (-39.8%) and construction (-21.9%) declined. Last year, these sectors posted record credit growth, including a 5.2-fold increase in industry and a 2.4-fold increase in construction.

It is expected that lending to companies operating in the manufacturing sector will start to recover in the coming months. At the same time, consumer lending will continue to stimulate domestic demand. Economists forecast that the Kyrgyz economy will grow by 8.7% in 2025.