BAKU, Azerbaijan, February 16. European Bank for Reconstruction and Development (EBRD) has updated the forecast for Uzbekistan’s gross domestic product (GDP) growth for 2023-2024, Trend reports via the bank.
According to the bank, Uzbekistan’s GDP will increase by 6.5 percent in 2023.
The EBRD also projects that the GDP growth rate in 2024 will reach 7 percent.
The indicators for Uzbekistan have not changed from the EBRD’s estimations in September 2022. Turkmenistan's GDP growth is estimated at the same level as Uzbekistan, while Tajikistan is expected to have the highest GDP growth among the Central Asian countries this year.
The EBRD also notes that the GDP growth in Central Asia in 2023 is expected to stand at 4.9 percent, while Kazakhstan will exhibit the slowest growth among the Central Asian states.
The European Bank for Reconstruction and Development is an international financial institution aiming to unlock the growth potential of member countries. The London-based bank also systematically offers various reports dedicated to the analysis of economic conditions in its member countries.