Uzbekistan’s economy to grow by 7% in 2009, 2010

Tashkent, Uzbekistan (UzDaily.com) -- Real gross domestic product (GDP) of Uzbekistan will grow by 7% in next two years, the International Monetary Fund said in its April World Economic Outlook.

The report said that the economy of Uzbekistan will slow down from 9.5% GDP growth in 2007 and 9% in 2008.

Consumer prices in Uzbekistan will fall from 12.7% in 2008 to 12.5% in 2009 and 9.5% in 2010, the report said.

Uzbekistan’s current account balance will decrease from 13.6% in 2008 to 7.7% and 6.8% in next two years.

Uzbekistan is expected to suffer from falling foreign remittances, particularly from migrant workers in Russia.