ADB: Uzbekistan’s GDP to grow by 7% in 2015
24/03/2015 12:42
ADB: Uzbekistan’s GDP to grow by 7% in 2015
24/03/2015 12:42
Tashkent, Uzbekistan (UzDaily.com) -- The growth of gross domestic product (GDP) of Uzbekistan will make up 7% in 2015, the Asian Development Bank (ADB) forecasted.
In September 2014, the ADB forecasted that economy of Uzbekistan will grow by 7.1% in 2015.
According to the ADB’s report Asian Development Outlook, the growth of GDP of Uzbekistan will make up 7.2% in 2016.
The report said that the ADB decreased forecast on economic growth of Uzbekistan due to bad economic situation in Russia and sluggish external demand. However, the external demand will improve in 2016.
According to the ADB, inflation rate in Uzbekistan will be at the level of 9.5%in 2015 and 10% in 2016. The ADB earlier forecasted that inflation rate in Uzbekistan will be 10% in 2015.
The bank forecasted that current account balance will make up 0.9% to GDP in 2015 (September forecast – 2.8%) and 1.1% in 2016, the bank said.
Asian Development Outlook and Asian Development Outlook Update are ADB’s flagship economic reports analyzing economic conditions and prospects in Asia and the Pacific, and are issued in April and October, respectively.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration. Established in 1966, it is owned by 67 members – 48 from the region.
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