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IMF updates on Uzbekistan’s inflation rate

Uzbekistan Materials 16 April 2024 18:15 (UTC +04:00)
Kamol Ismailov
Kamol Ismailov
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TASHKENT, Uzbekistan, April 16. The International Monetary Fund (IMF) updates on Uzbekistan’s inflation rates, Trend reports.

According to the IMF's latest World Economic Outlook report, Uzbekistan's inflation rate will reach 11.6 percent in 2024. The inflation rate is expected to rise by 1.6 percent year over year.

In addition, the IMF predicts that Uzbekistan's inflation rate will fall to 9.7 percent by 2025. At the same time, the country's inflation rate is predicted to reduce, reaching 5 percent in 2029.

Meanwhile, the Asian Development Bank (ADB) predicts Uzbekistan's inflation rate to remain around 10% in 2024 and just marginally lower to 9.5 percent in 2025.

This reflects the delayed effects of energy price hikes in October 2023, as well as predicted rises in domestic energy prices in 2024 and 2025, according to the ADB.

To tackle inflation, commercial banks are likely to keep a check on credit growth by limiting microcredit and consumer lending, including auto loans, the bank analysts noted.

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