Tashkent, Uzbekistan, April 2
By Demir Azizov- Trend:
The Asian Development Bank (ADB) has kept the forecast on the GDP growth of Uzbekistan at 8 percent in 2014, according to the Asian Development Outlook 2014 report released in April.
Recall, ADB forecasted Uzbekistan's economic growth at up to 8 percent for 2014 in October 2013.
Uzbekistan's GDP will grow by 7.8 percent in 2015, according to ADB prognosis. The inflation level will amount to 11 percent in 2014 compared to the forecasted 9 percent forecasted in October. The country's inflation level will be 10 percent in 2015.
The balance of account of the current transactions will be at the level of 4.7 percent of GDP in 2014 compared to some 3.2 percent forecasted in October and 3.6 percent in 2015, according to the bank's analysts.
Uzbekistan's GDP increased by 8 percent in 2013 compared to 2012 and the inflation was 6.8 percent compared to 7 percent in 2012, according to the official statistics.
The country's foreign trade turnover increased by 9.4 percent, according to the preliminary data and amounted to $28.886 billion, at the same time export increased by 10.9 percent and amounted to $15,087,200,000, while the import increased by 7.7 percent and amounted to $13,798,800,000. Uzbekistan's trade surplus amounted to $1,288,400,000 in 2013.
The government plans to ensure GDP growth at the level of 8.1 percent, while inflation is planned to be kept within the 7 - 9 percent in 2014.
Uzbekistan has been an ADB member since 1995 and today is the largest recipient of loans from this financial institution in Central Asia. The total amount of loans given by the bank for the implementation of over 40 investment projects worth - $14.5 billion, amounts to nearly $5 billion for today.
Translated by L.Z.
Edited by C.N.