Uzbekistan, Tashkent, May 13 / Trend D. Azizov /
The European Bank for Reconstruction and Development (EBRD) increased its forecast for the growth of Uzbekistan's gross domestic product (GDP) in 2013 to 7.5 per cent, the latest report of the bank, 'Regional Economic Prospects in EBRD operations countries' says.
According to the forecast, the inflation rate will comprise 11 per cent against 12.1 per cent in 2012.
As reported previously, in January this year the bank predicted economic growth in Uzbekistan in 2013 at seven per cent.
According to the bank, Uzbekistan's economy in 2012 grew by 8.2 per cent exceeding the bank's October forecast by 0.7 per cent, and to a large extent was provided by government expenditures, diversification of gas export routes and monetary regulation. Inflation amounted to 10 per cent.
As reported before, in early April the Asian Development Bank (ADB) reduced the growth forecast for the GDP of Uzbekistan in 2013 to 7.5 per cent compared to the previously envisioned growth of 7.9 per cent. ADB has also raised its forecast for inflation to 9.5 per cent from nine per cent.
According to official statistics, Uzbekistan's GDP in 2012 grew by 8.2 per cent compared to 2011. The inflation rate amounted to seven per cent against 7.6 per cent in the previous year.
In 2013, the government is planning to ensure an eight per cent growth with an inflation rate between seven and nine per cent.