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The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.

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NEWS

IMF: Regional Economic Outlook Update: Middle East & Central Asia

www.imf.org
31 May 2013

The Caucasus and Central Asia (CCA) region continued to post solid economic growth in 2012, though, at 5.7 percent, moderately lower than in previous years. This moderation in growth reflected subdued external demand, a sharp decline in agricultural output in Kazakhstan, and disruptions to gold production in the Kyrgyz Republic. The near-term outlook remains broadly favorable for CCA oil and gas exporters (Azerbaijan, Kazakhstan, Turkmenistan, Uzbekistan), reflecting the region's limited direct exposure to Europe, and continued high oil prices. Growth is projected to be resilient, at an average of 5.8 percent in 2013 and 6.1 percent in 2014. Most oil and gas exporters are projected to grow between 5 percent and 8 percent in 2013-14, supported by high non-oil growth and, in Kazakhstan, higher oil production. Azerbaijan's growth - still largely sustained by strong non-oil growth - is expected to recover in 2013-14, as oil output is beginning to stabilize.[Read full report here].