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NEWS

Uzbekistan's economy to grow by 7.4 percent in 2012: IMF

10 October 2012

http://www.nzweek.com of 10/10/2012 - The International Monetary Fund (IMF) forecasts that Uzbekistan's gross domestic product (GDP) could grow 7.4 percent this year, 0.4 percentage point higher than its April projection.

The IMF said in the October edition of its World Economic Outlook that the inflation rate in Uzbekistan for 2012 could stand at 12.9 percent.

According to the report, the global economy would grow 3.3 percent in 2012 instead of the previously estimated 3.5 percent, as the IMF believes the world economy has weakened further despite its continued recovery.

Earlier this month, the Asian Development Bank (ADB) maintained its forecast of Uzbek economic growth at 8 percent for the current fiscal year ending next June.

Uzbekistan has averaged 8 percent in GDP growth since the mid-2000s.  Read full report here.