Uzbekistan Economic Outlook
November 28, 2017Recent data showed that the economy decelerated in the third quarter. Cumulative GDP growth moderated from a 7.0% annual increase in Q2 to 5.3% in Q3 as growth was dragged down by a slowdown in key sectors including agriculture, construction and industry. The currency liberalization in September has resulted in higher prices for inputs and outputs, impacting both producers and consumers. Despite its adverse immediate impact, the measure was applauded by the IMF in its most recent assessment of the economy in November. The Fund commented that further reforms should now target the liberalization of state-owned enterprises and the removal of price controls to further improve the country’s macroeconomic framework and attract FDI.
Uzbekistan Economic GrowthHigher prices for commodities will boost economic growth in the next two years, although the impact of market-oriented reforms will weigh on GDP growth in the short term. FocusEconomics panelists see GDP growing 6.2% in 2018, which is unchanged from last month’s forecast. In 2019, the panel sees the economy expanding 6.1%.
Uzbekistan Economy Data
5 years of Uzbekistan economic forecasts for more than 30 economic indicators.
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