WORLD BANK: UZBEKISTAN’S GDP TO GROW BY 7.5% IN 2016
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The growth of gross domestic product (GDP) of Uzbekistan in 2016 will make up 7.5%, according to the World Bank’s Global Economic Prospects published on January 6.
The bank’s experts forecast that economy of Uzbekistan will grow by 7.7% in 2017 and 2018.
In June 2015, the World Bank forecasted that the GDP of Uzbekistan will grow by 7.8% in 2016 and 8% in 2017.
Uzbek President Islam Karimov said that the growth of Uzbekistan’s GDP exceeded 8% in 2015. The Government of Uzbekistan forecasted that the economy of the country will expand by 7.8% in 2016.
According to the experts of the bank, economic problems in Russia negatively impact Uzbekistan. The report noted that Uzbekistan was able to keep stable export figures, but low commodity prices and reduction of remittances impact economic growth in the country.
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