IMF keeps seven per cent position for Uzbekistan’s economic growth in 2013
Uzbekistan, Tashkent, Oct. 11 /Trend D.Azizov/
International Monetary Fund (IMF) has maintained an outlook for growth of Uzbekistan's gross domestic product (GDP) in 2013 at seven per cent, the October report of the IMF World Economic Outlook said.
It was previously reported that in April 2013 the IMF raised its outlook for Uzbekistan's economic growth to seven per cent from 6.5 per cent forecasted in October 2012.
IMF has also kept its outlook for the country's economic growth in 2014 at 6.5 per cent.
According to the updated IMF outlook, inflation in late 2013 will amount to 12.1 per cent against the April outlook which was 10.9 per cent.
The IMF outlook also said the current account balance is 0.2 per cent of GDP which is 3.5 per cent.
According to IMF, in 2014 inflation in Uzbekistan could reach 10.4 per cent (11 per cent) and the balance of the current account can reach 1.1 per cent (4.2 per cent).
It was reported that in 2013 the government planned to ensure growth of the GDP by eight per cent, industrial production by 8.4 per cent, agricultural production six per cent and growth of capital investments by 9.3 per cent.
Inflation is planned to be kept within limits of seven to nine per cent.
Uzbekistan joined the IMF in 1992. The organisation's office has been operating in the country since 1993.
In autumn 2003, Uzbekistan assumed its obligation under Article IV of the IMF's charter and introduced the conversion of national currency - the soum.