BAKU, Azerbaijan, April 11. Uzbekistan’s current account balance is expected at –3.5 percent of the GDP in 2023, Trend reports via the latest World Economic Outlook from the International Monetary Fund (IMF).
According to the report, the forecast for the current year has been upgraded from the previous outlook of October 2022 (– 4.2 percent of the GDP).
The IMF economists estimate the country's current account balance at –3.7 percent in 2024.
Uzbekistan’s current account balance in 2022 is estimated at 1.4 percent, according to the latest outlook.
Furthermore, IMF forecasts Uzbekistan’s GDP growth at 5.3 percent in 2023, and this indicator will be up by 5.5 percent in 2024.
At the same time, the fund forecasts a slowdown in Uzbekistan’s inflation rate from 11.8 percent in 2023 to 9.9 percent in 2024.
Meanwhile, according to the WB forecast, the current account surplus of Uzbekistan’s balance of payments in 2023 will amount to -3.7 percent of the GDP. The WB analysts predict a current account surplus of the balance of payments in 2024 at the level of -3.8 percent of GDP, while in 2025 -4.1 percent of GDP.