WB forecasts 7.5 percent economic growth in Uzbekistan for 2013
Uzbekistan, Tashkent, Jan. 16 / Trend, D. Azizov /
The World Bank (WB) has forecasted 7.5% growth in Uzbekistan's gross domestic product (GDP) for in 2013 compared to 8.2% for 2012, the bank's report on 'Global Economic Prospects' released on Wednesday said.
According to the report, the Uzbek economy is projected to grow at 7% in 2014, and 6.8% in 2015.
According to the WB report, the current surplus in Uzbekistan will stand at 4.5% of GDP in 2013, 4% in 2014 and 3.8% in 2015.
According to experts at the World Bank, Uzbekistan's current account surplus hit 4.5% in 2012. The report says Uzbekistan's high rate of economic growth will be supported by a large government capital investment program and relatively stable prices on the country's main export products, cotton, gas and gold.
As previously reported, the Uzbek government expects 8% GDP growth in 2013.
Uzbekistan joined the World Bank in 1992. Since 1995, the bank has provided loans worth $1.46 billion to Uzbekistan for projects in the area of privatization, financial sector development, the modernization of agriculture, energy, improvement to social infrastructure, health and education.
According to the strategy of partnership with Uzbekistan for 2012-2015 approved by the bank, the World Bank intends to provide financial assistance to the country in the implementation of 15 investment projects in the energy, transport, irrigation, petrochemical, textile and agro-processing sectors and the in the improvement of the quality of medical services for a total of $1.3 billion.