IMF announces forecasts for economic growth in Uzbekistan until 2024
Baku, Azerbaijan, Oct. 9
By Fikret Dolukhanov – Trend:
The International Monetary Fund (IMF) has kept the forecast for Uzbekistan's economic growth rate for 2018 at the level of five percent, the updated World Economic Outlook report said.
The Fund earlier forecasted the growth rate of Uzbekistan's GDP in 2018 at the level of five percent.
In terms of GDP growth for 2018, Uzbekistan is ahead of the average figure for Central Asia – 4.54 percent.
According to the updated report of the IMF, the growth of the economy of Uzbekistan in 2019 will also be five percent, and by 2023 it will increase to six percent.
The IMF forecasted 19.2-percent inflation in 2018 and 14.9 percent in 2019 compared to 12.5 percent in 2017.
The current account balance of Uzbekistan was 3.5 percent of GDP in 2017. According to the IMF forecast, the figure will be negative 0.5 percent of GDP in 2018, and is expected to drop to negative 1.5 percent of GDP in 2019.
It was reported earlier that the GDP of Uzbekistan amounted to 152.53 trillion soums in 1H2018, which is 4.9 percent more compared to the 1H2017.
Uzbekistan became a member of the IMF in 1992. The Fund’s representative office has been operating in the country since 1993.
(8181.08 soums = 1 USD on Oct. 9)
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