World Bank lowers forecast for Uzbekistan’s economic growth in 2014 to seven percent

Tashkent, Uzbekistan, Jan.16
By Demir Azizov- Trend:

The World Bank (WB)has reviewed its forecast for the GDP growth of Uzbekistan in 2014 and lowered it to seven percent compared to the 7.1 percent forecasted in June 2013, the January report of the World Bank titled 'Global Economic Prospects for 2014' said.

According to the current prognosis, the GDP growth of Uzbekistan in 2015 and 2016 will amount to 6.7 percent.

The report said the amount of the current balance will be 3.6 percent GDP in 2014, 2.3 percent in 2015 and 1.2 percent in 2016.

According to WB estimates, Uzbekistan's GDP growth as of 2013 amounted to 7.4 percent and the current balance is a 3.2 percent GDP.

According to the report, significant economic growth rates will be maintained by a large government programme of capital investment and relatively stable prices for the main export commodities of Uzbekistan, namely cotton, gas and gold.

The government forecasts the economic growth at the level of 8.1 percent, industrial production at 8.3 percent, agricultural production at six per cent and capital investment 9.5 percent.

Uzbekistan became a member of the World Bank in 1992.

Translated by L.Z.

Edited by S.M.

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