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World Bank forecasts GDP growth at 4.3% for Uzbekistan in 2021

15 Jan 2021 5:52 PM | Vera Dedyulya (Administrator)

The World Bank forecasts GDP growth for Uzbekistan at 4.3% in 2021 and 4.5% in 2022, according to the Global Economic Prospects released in January 2021.

The regional economy is forecast to expand only moderately in 2021, to 3.3%, as the resurgence of COVID-19 cases causes persistent disruptions to activity. The outlook is predicated on the distribution of an effective vaccine in early in 2021 in advanced economies and major emerging market and developing economies, including Russia, and later in the year for other countries. It also assumes that geopolitical tensions do not re-escalate in the region.

In Central Asia, growth is expected to recover to 3% this year, supported by a modest rise in commodity prices and foreign direct investment as the subregion deepens its integration with China’s Belt and Road Initiative.

The GDP growth for Kazakhstan is forecast at 4% in 2021, at 3.8% for Kyrgyzstan, 3.5% for Tajikistan.