Tashkent, Uzbekistan (UzDaily.com) -- The growth of the economy of Uzbekistan in 2020 will be 1.5%. This is predicted by Renaissance Capital experts.

At the same time, according to the company’s forecasts, the GDP of Uzbekistan in 2021 will grow by 5.6%. Renaissance Capital notes that Uzbekistan will become the only CIS country in 2020 where positive economic growth will be recorded.

“The second wave of coronavirus has already covered a number of countries in the CIS + region, including Russia, Ukraine, Georgia, Armenia and Moldova. At the same time, those economies that have already gone through the second wave, for example, Kazakhstan and Uzbekistan, have resumed recovery and, in our opinion, now have the best growth prospects in the region,” Renaissance Capital notes.

“Given the imminent launch of mass vaccinations, an increase in immunity among the population and a decrease in the mortality rate from coronavirus, we do not expect the introduction of serious restrictive measures in the CIS + space, comparable to the spring quarantines,” the company said in a report.

“We have updated our growth forecasts for the region’s economy, taking into account the consequences of the second wave, as well as the latest political events. Our forecast for the growth of the Russian economy is higher than the consensus forecast,” underlines Renaissance Capital.