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IMF raises Uzbekistan's GDP growth forecast

Business Materials 21 September 2011 14:20
The International Monetary Fund (IMF) raised its growth forecast for Uzbekistan's gross domestic product (GDP) to 7.1 percent in 2011 compared to the 7 percent predicted in April, the report of Global Economic Prospects, published at the IMF website on Sept. 20 said.

Uzbekistan, Tashkent, Sept. 21 / Trend D. Azizov /

The International Monetary Fund (IMF) raised its growth forecast for Uzbekistan's gross domestic product (GDP) to 7.1 percent in 2011 compared to the 7 percent predicted in April, the report of Global Economic Prospects, published at the IMF website on Sept. 20 said.
According to the report, the growth of real GDP will remain at 7 percent in 2012, as predicted earlier.

The IMF expects inflation growth at 13.1 percent in Uzbekistan in 2011 and its reduction to 11.8 percent in 2012. In April the fund forecasted inflation in the country at 11.6 percent in 2011 and 12.3 percent in 2012.

According to the report, the current account surplus will hit 8 percent in 2011, or 2 percent less than the previous forecast. In 2012 the IMF raised its forecast for the current account surplus to 7.4 percent compared to the 6.7 percent-forecast in April.

According to IMF experts, unemployment will remain at 0.2 percent in the country this year and next year.

The IMF stressed that Uzbekistan's economy increased by 8.5 percent in 2010 (IMF forecast - 8 percent), inflation - 9.4 percent (10.6 percent).

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