EBRD forecast: Uzbekistan’s GDP to grow by 7% in 2015

Tashkent, Uzbekistan (UzDaily.uz) -- The European Bank for Reconstruction and Development (EBRD) lowered its forecast on economic growth of Uzbekistan for 2015 by 0.8 percentage points, the report “Regional Economic Prospects in EBRD Countries of Operations” said.

According to May report, the gross domestic product (GDP) of Uzbekistan will grow by 7% in 2015. In January 2015, the experts of the EBRD forecasted that economy of Uzbekistan will grow by 7.8% in 2015.

According to forecast of the EBRD, economy of Uzbekistan will increase by 7.2% in 2016. According to the bank, the GDP of Uzbekistan rose by 8.1% in 2014.

The EBRD said that sharp drop in remittances from Russia and slowdown of economies of some of the main trading partners will result in decreasing economic growth of Uzbekistan.

Inflation is expected to reach 9.8% in 2015, up from 8.4% in 2014, the EBRD underlined.