BAKU, Azerbaijan, August 2. Renaissance Capital Investment Bank shared an updated forecast on Uzbekistan's GDP growth in 2022, Trend reports with reference to the bank's report.
According to the Renaissance Capital's forecast, the GDP growth rate in Uzbekistan is estimated at 4.5 percent in 2022 and in the next year the country's GDP growth will accelerate to 5.5 percent.
The CIS region's economies, despite extensive ties with Russia, are generally showing stronger growth than the Renaissance Capital expected in March of this year, the report said.
"In Uzbekistan, we expect the Uzbek sum (national currency) to remain relatively stable. The expected depreciation of the Russian rouble, however, should not put a major pressure on the Uzbek sum in the short-term," the Renaissance Capital reported.
The Bank's forecast said that inflation in Uzbekistan is expected to slow down to 10.5 percent in the second half of 2022 from the current 12 percent.