Tuesday, 24, October, 2017

Uzbekistan has the second-fastest-growing economy, with projected growth of 7.6% in 2017 according to the World Bank’s latest edition of Global Economic Prospects.

Uzbekistan’s GDP is forecast to grow by 7.6% in 2017, thanks to rising oil prices, benign global financing conditions, robust growth in the Euro Area, and generally supportive policies among governments of several large countries in the region.

The Central Asian country’s accelerating growth comes on the back of government spending on infrastructure, improving investment climate and with the country having low levels of public debt.

Ethiopia is the fastest-growing economy in 2017 with its GDP is forecast to grow by 8.3%, Nepal is placed third with a 7.5% projection

Global growth is predicted to rise by 2.7% on the back of a pick-up in manufacturing and trade, improved market confidence and a recovery in commodity prices.

Trade increased by around 4% in 2017, up from a post-crisis low of 2.4% in 2016. Although it is expected to remain below pre-financial crisis levels.

 

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