Practical workshops on the Dynamic Stochastic General Equilibrium (DSGE) model, adapted to the specifics of the Kyrgyz Republic economy, were conducted for representatives of agencies that were in charge of forecasting and planning of monetary, macroeconomic and fiscal policies (the Presidential Administration, the NBKR, the Ministry of Economy and Commerce of the Kyrgyz Republic, the Ministry of Finance of the Kyrgyz Republic). DSGE model serves as a comprehensive tool for analyzing various macroeconomic policies, including monetary, fiscal and structural aspects, to respond to different types of shocks. The model covers a period of one to ten years. With the DSGE model, the NBKR staff describes scenarios that are used to formulate the monetary policy.
Improving the measurement of inflation expectations. The EGED Programme supported the NBKR to improve the methodology of measuring inflation expectations of the population. In 2023, Listening to Kyrgyzstan (L2KGZ), the monthly household survey, designed to collect data on social and economic well-being of residents usually unavailable from other sources, has been expanded to include additional questions, thus reflecting international best practice on inflation expectations. This data contributes to timely and regular monetary analysis and improved policy decisions and communications.
Improving communications. In response to the NBKR request, the EGED Programme provided technical assistance to improve the National Bank's communications policy: the management staff of the regulator was trained on the best practices of public communications, and the institution itself adopted the action plan to remove