The International Monetary Fund (IMF) adjusted its assessment of Uzbekistan’s economic development, improving its forecast for 2023.
The IMF expects Uzbekistan’s GDP to grow by 5.5% this year.
In April, the Fund forecast growth of 5.3%. The forecast for GDP growth in 2024 remained unchanged at 5.5%.
In terms of economic growth rates in 2023, Uzbekistan is ahead of Kazakhstan (4.6%), Kyrgyzstan (3.4%), and Turkmenistan (2.5%), but lags behind Tajikistan (6.5%).
“The current balance of payments for Uzbekistan this year will be 4.3%, compared to 0.8% in 2022. In 2024, this figure will increase to 4.6%,” according to IMF forecasts.
The IMF expects inflation in Uzbekistan to fall from 11.4% in 2022 to 10.2% in 2023 and 10% in 2024.
“The unemployment rate in Uzbekistan will fall to 8.4% this year (8.9% in 2022) and to 7.9% in 2024,” according to the IMF.
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