Forecast on Central Asian economy remains stable

Business Materials 7 November 2017 21:20 (UTC +04:00)

Baku, Azerbaijan, Nov. 7

By Ali Mustafayev – Trend:

The increase in the oil price has been a positive factor for the commodity exporting regions, including Central Asia, the European Bank for Reconstruction and development reported.

The banks forecasts on Central Asian region has decreased by 0.1 percent compared to may 2017, which illustrates current economic stability of the region.

Kazakh, Kyrgyz and Tajik economy has demonstrated positive results (3.5 percent, 4.2 percent and 3 percent of economic growth). Although the forecasts on the economy of Uzbekistan and Turkmenistan have decreased by 0.3 percent and 0.9 percent as for November 7, the countries lead on the economic growth of the region with 6.2 percent and 5.1 percent of economic growth accordingly.

The EBRD tracks the economies of 37 emerging countries, where it finances projects and supports reforms that promote sustainable and environmentally-friendly market economies.

The pace of growth has picked up in 27 of the EBRD’s economies this year, the first time that such a broad upturn has been seen since 2010, according to the Bank’s report.

The gap in growth rates between the east and west of the EBRD is also expected to narrow further.