Uzbekistan, Tashkent, April 14 / Trend D. Azizov /
The International Monetary Fund (IMF) has confirmed the October forecast that Uzbekistan's gross domestic product (GDP) would grow by 7 percent in 2011, the fund's report "World Economic Outlook" published on its website.
According to the report, the growth of real GDP will amount to 7 percent in 2012.
According to the IMF forecasts, the inflation in Uzbekistan will amount to 11.6 percent in 2011 and increase up to 12,3 percent in 2012. The current account surplus will hit 10 percent of GDP this year and will shrink by 6.7 percent in 2012. The country's unemployment rate will remain at 0.2 percent for this and next year.
It was reported that in October of last year the IMF projected the current account balance at 3.8 percent of GDP in 2010 and 6.3 percent in 2011. According to the Fund, inflation may hit 11.4 percent in 2011.
According to the IMF's current report, Uzbekistan's economy increased by 8.5 percent in 2010 (IMF forecast - 8 percent), inflation - 9.4 percent (10.6 percent).
According to the forecast of the Asian Development Bank (ADB) published last week, the growth of the Uzbek economy will amount to 8.5 percent in 2011 and 8.4 percent in 2012. Thus, the current account surplus will amount to 16.3 percent and 12.6 percent, respectively, with inflation - 8.8 percent this year and 8.5 percent next year.
According to the official statistics, Uzbekistan's GDP increased by 8.5 percent in 2010 compared to 2009. The industrial production also increased by 8.3 percent, agricultural goods - 6.8 percent. Inflation hit 7.3 percent.
The foreign trade turnover increased by 3 percent, up by $21.842.4 billion in 2010 compared to 2009. Exports increased by 10.8 percent - up to $13.44.5 billion, imports decreased by 6.8 percent - up to $8.797.9 billion.