Monday, 20, May, 2019

Asian Development Bank (ADB) has lowered its economic growth forecast for Uzbekistan in 2018 down to 4.9 percent from 5.5 percent projected previously due to the long-term impact of the Uzbek soum devaluation, the bank said.

The forecast for inflation remained unchanged — 16 percent in 2018 and 14 percent for 2019.

ADB also lowered the forecast for Kyrgyzstan’s economic growth from 2.5 percent to 3.5 percent due to a slowdown in the extraction of minerals.

Higher oil prices lead to an economic growth in Kazakhstan, providing the GDP growth from 3.2 percent to 3.7 percent.

In turn, the growth forecast for Central Asia for 2018 was revised upwards by 0.1 point. Earlier, the bank forecasted economic growth at the level of 4 percent, now this figure is 4.1 percent.

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