ADB lowers forecast for GDP growth in Uzbekistan for 2017
28/09/2017 15:31
ADB lowers forecast for GDP growth in Uzbekistan for 2017
28/09/2017 15:31
Tashkent, Uzbekistan (UzDaily.com) -- The Asian Development Bank (ADB) lowered the forecast for GDP growth in Uzbekistan for 2017 by 0.2 percentage points to 6.8%. This is stated in the publication of the bank “Asian Development Outlook 2017 Update”.
According to the forecast of the bank, the economy of Uzbekistan will grow by 7.3% in 2018. The forecast is improved by 0.2 percentage points.
The bank’s specialists noted that GDP growth in Uzbekistan will be slightly weaker, as the economy is adjusting to devaluation of the sum and liberalization of monetary policy. ADB experts added that these reforms will lead to GDP growth in 2018.
At the same time, ADB raised its forecast for inflation rate in Uzbekistan for 2017 from 9.5% to 11% and for 2018 - from 10% to 12%. The bank noted that the inflation growth in 2017 and in 2018 is connected with the devaluation of the national currency rate.
According to ADB, the current account balance in Uzbekistan will be at the level of 0.1% of GDP in 2017 (ADB’s April forecast was 0.2% of GDP) and 0.5% in 2018 (0.4%).
The report underlined that Uzbekistan’s public debt is 15.1% of GDP.
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