World Bank increases its forecast for economic growth of Uzbekistan in 2014
11/10/2014 14:38
World Bank increases its forecast for economic growth of Uzbekistan in 2014
11/10/2014 14:38
Tashkent, Uzbekistan (UzDaily.com) -- World Bank raised its forecast for growth of the gross domestic product (GDP) of Uzbekistan in 2014 to 7.9%, according to materials of the bank, published this week.
In June 2014, the World Bank forecasted that economic growth in Uzbekistan will make up 7% in 2014.
According to the World Bank, Uzbekistan’s GDP will grow by 7.5% in 2015, while earlier it forecasted that the figure will make up 6.7%.
The bank said that the Government of Uzbekistan adopted measures to diversify exports and boost internal demand in the second half of 2014, which will help to economic growth in Uzbekistan in 2014.
But, decrease of prices for cotton and gold, bad economic situation in main export markets, mainly in Russia, as well as reduction of money transfers to population, will not allow to achieve economic growth at the rate of 8% like in last 10 years.
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