Baku, Azerbaijan, Nov. 6
By Elena Kosolapova - Trend:
Economic growth in Central Asia is expected to slow down this year, according to the latest economic forecast published by the European Bank for Reconstruction and Development (EBRD).
"While growth on average is expected to reach 3.8 percent in 2015 and edge upwards to 3.9 percent in 2016, this is a slowdown from the healthy average six percent real growth in 2014," said EBRD in a message issued Nov. 6.
"The main two factors impeding growth are the recession in Russia and low commodity prices," said EBRD.
EBRD said that within the Central Asian region, the GDP in Kazakhstan is expected to grow by 1.2 percent (recovering slightly to 1.5 percent in 2016), in Kyrgyzstan - by five percent (slowing to 3.9 percent in 2016), and in Tajikistan - by five percent (slightly lowering to 4.5 percent in 2016).
The GDP in Turkmenistan will be the fastest-growing at 8.5 percent (same in 2016), and Uzbekistan's GDP growth is projected at 7.5 percent (cooling slightly to 7.2 percent in 2016).