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Uzbekistan's GDP to continue growth

Business Materials 12 December 2017 09:33 (UTC +04:00)

Baku, Azerbaijan, Dec. 12

By Nigar Guliyeva – Trend:

The real gross domestic product (GDP) of Uzbekistan will grow by 6.5 percent in 2017, reads a report "The World Economic Situation and Prospects for 2018" by the UN.

The report notes that the economy of Uzbekistan will increase by 6.4 percent in 2018., while the growth of Uzbekistan's GDP in 2019 will be 6.1 percent.

UN experts forecast that the consumer price inflation in Uzbekistan in 2017 will be 10.5 percent compared to 9 percent in 2016. In 2018, consumer prices in Uzbekistan will grow by 8.1 percent and in 2019 - 7.6 percent.

The authors of the report indicate the activation of economic activity in the CIS space. The growth in regional GDP, that slowed to almost stagnate in 2016, is projected to be 2.2 percent in 2017. It is expected that in 2018 and 2019, the growth rate will accelerate to about 2.3 percent and 2.4 percent, respectively.

The economies of Central Asia will grow faster than in other CIS countries, due to an increase in the inflow of remittances, the implementation of the One-Belt, One-Way Initiative, and in some cases the financing of development from the budget.

According to preliminary data, during 9 months of 2017 the GDP of Uzbekistan amounted to 170.75 trillion soums, the State Statistics Committee said.

The real rate of growth, compared with the corresponding period of the previous year, was 105.3 percent.

The official exchange rate for December 12 is 8093 UZS / USD.

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