BAKU, Azerbaijan, Apr. 15
By Ilkin Seyfaddini – Trend:
The International Monetary Fund (IMF) forecasts a slowdown in Uzbekistan's economic growth to 1.8 percent in 2020, Trend reports citing the IMF.
In 2021, according to the IMF baseline scenario, the world economy will grow by 5.8 percent, recovering rapidly from the pandemic. Next year, Uzbekistan's GDP growth is expected at seven percent.
Analysts predict that the global economy will decline by three percent in 2020. The recession will be recorded in 157 out of 194 countries.
Thus, the U.S. economy will decline by 5.9 percent, the eurozone by 7.5 percent, and growth in China will slow to 1.2 percent. Among the economies with the largest projected decline in 2020 are Venezuela (minus 15 percent), Lebanon (minus 12 percent), Greece (minus 10 percent), Croatia and Montenegro (minus nine percent each).
In total, the IMF predicts that total global GDP losses from the coronavirus pandemic crisis could reach $9 trillion.
Recently, exchange rate for US dollar, euro significantly increases in Uzbekistan: the dollar rose by 427 soums and now costs 10,121 soums, the euro rose by 512 soums and costs 11,111 soums.
According to updated forecasts of the Central Bank of Uzbekistan, by the end of 2020 the inflation rate in the country will decrease by one percent against the initial estimates (12-13.5 percent) and will make 11-12.5 percent.
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