Uzbekistan intends to obtain sovereign credit rating by 2015
Uzbekistan, Tashkent, Dec. 2 / Trend D. Azizov /
Uzbekistan intends to obtain a sovereign credit rating by 2015, the Uzbek government reported in a state economic development program approved by President Islam Karimov last week.
According to the document, the president instructed the government and the Central Bank of Uzbekistan to prepare proposals on a range of measures envisaging obtaining the sovereign rating of international rating organizations in the first half of 2013.
In particular, the program envisages holding talks with rating agencies, as well as carrying out appropriate procedures to obtain a country rating. All of the activities are scheduled to be carried out by late 2014.
The document mentions that on such key indicators as defining a sovereign credit rating, GDP growth, gross national debt, gross external debt, and the state budget are not far behind many countries with high investment category ratings.
Earlier, Karimov told the Uzbek parliament that as a result of this year, GDP growth in the country would reach 8.5 percent. He added that growth is forecast at 8.3 percent in 2011 compared to 8.1 percent in 2009.
The positive forecasts of Uzbekistan's GDP growth are confirmed by international financial institutions. The Asian Development Bank forecasts GDP growth in Uzbekistan in 2010 and 2011 at 8.5 percent and 9 percent, respectively. The European Bank for Reconstruction and Development places the figures at 8.2 and 8.5 percent, and the International Monetary Fund at 8 and 7 percent.