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Uzbekistan's government reveals economy growth forecasts

Business Materials 20 November 2018 16:32

Baku, Azerbaijan, Nov. 20

By Fikret Dolukhanov – Trend:

According to the forecasts of the government of Uzbekistan, the country's economy will grow by 5.4 percent in 2019 and the country's GDP will reach 424.1 trillion soums, the Finance Ministry said.

In 2020, Uzbekistan's GDP is projected to reach 524.1 trillion soums, which is 6 percent higher than in 2019.

In 2021, the GDP growth will be 7 percent – up to 637.9 trillion soums.

By the end of 2018, the country's GDP is expected to reach 326.9 trillion soums with an increase of 5.2 percent.

Uzbekistan's industrial output is projected to grow by 4.9 percent in 2019, 6.2 percent in 2020, and 7.2 percent in 2021.

The inflation rate will be 15.5 percent in 2019, down to 12.6 percent in 2020 and 9.9 percent in 2021.

The updated World Economic Outlook report of the IMF earlier said that the economy of Uzbekistan will grow by 5 percent in 2018 and 2019, and by 6 percent until 2023.

According to the IMF forecasts, inflation in Uzbekistan will be 19.2 percent in 2018 and 14.9 percent in 2019 against 12.5 percent in 2017.

(8277.53 UZS = 1 USD on Nov. 20)

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