ADB keeps economic development forecasts for Uzbekistan

For 2014, growth projection remains unchanged at 8.0%. In 2012, growth reached 8.2% and the first half of 2013 – 8%.

Growth resulted mainly from the output gain of 8.2% in industry and 11.0% in services. Industry, especially the energy sector, benefitted from government-led investment spending, nearly a third of which went to industry, mainly for energy, the bank said.

According to the ADB forecast, the level of inflation will be at 9.5% in 2013 and 9% in 2014, as it forecasted in April 2013.

Current account balance will make up 4.3% to GDP in 2013 and 3.2% in 2014, the bank said. The figure was 4.7% to GDP in 2012.

The Asian Development Outlook and Asian Development Outlook Update are ADB’s flagship economic reports analyzing economic conditions and prospects in Asia and the Pacific, and are usually issued in April and October, respectively.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. In 2012, ADB assistance totaled $21.6 billion, including cofinancing of $8.3 billion.