Uzbekistan ranked among five fastest growing economies in world

World Economic Forum published the article titled “The 13 fastest-growing economies in the world”, which was prepared in cooperation with the Business Insider UK.

The article is based on the forecasts from the World Bank’s report ‘Global Economic Prospects’ and includes 13 countries with the highest projected compounded annual growth rate (CAGR) for 2014-2017.

According to the article, the economy of Uzbekistan will grow by 7.6% in 2015, 7.8% in 2016 and 8% in 2017. The CAGR of Uzbekistan’s GDP in 2014-2017 will make up 7.87%. In the result, Uzbekistan took the fifth place among 13 fastest growing economies of the world.

Among the 13 fastest growing economies of the world are also Ethiopia (1st place, CAGR – 9.7%), Turkmenistan (2nd place, CAGR – 9.07%), Democratic Republic of the Congo (3rd place, CAGR – 8.62%), Myanmar (4th place, CAGR – 8.3%), Cote d’Ivoire (6th place, CAGR – 7.8%), Papua New Guinea (7th place, CAGR – 7.6%), India (8th place, CAGR – 7.57%), Bhutan (9th place, CAGR – 7.55%), Mozambique (10th place, CAGR – 7.3%), Tanzania (11th place, CAGR – 7.15%), Rwanda (12th place, CAGR – 7.12%) and China (13th place, CAGR – 7.1%).