Öz Few years before the fall of 2007 inflation in Kyrgyzstan was low relatively to the neighboring states. Unfortunately this achievement was not supported by high levels of economic growth. In our article we consider these phenomena, analyze their interrelation and try to find ways for more rapid growth of Kyrgyz economy. We assume that economic growth should be the main goal of the National Bank as well as the government, while maintaining an acceptable level of inflation should be an instrument to achieve this goal.


1. Blanchard, O.J., Fisher, S. (1992). Lectures on Macroeconomics. The MIT Press, Cambridge, Mass. 650 pp.

2. Stiglitz, J.E. (2003). Globalization and its discontents. W.W.Norton & Company, New York, London, 288 pp.