Azernews.Az

By Aynur Karimova

The European Bank for Reconstruction and Development has increased its forecast for Uzbekistan’s GDP growth for 2015 to 7.8 percent from 7.6 percent projected in September 2014, the bank said in its recently published report on regional economic prospects.

The forecasts show that inflation in this country will amount to 11 percent in 2015, which corresponds to the level of the previous year.

The report also said the economic growth in Uzbekistan amounted to 8 percent in 2014. This figure was predicted by the bank at 7.5 percent in September.

EBRD went on adding that the situation in Russia affects the economic development of Uzbekistan to some extend, so the money transfers from Russia to Uzbekistan will decrease as the volume of trade turnover between the two countries.

The World Bank has lowered the GDP growth forecast of Uzbekistan for 2015 to 7.4 percent against 7.9 percent projected in October 2014.

The report noted Uzbekistan's GDP growth in 2016 will amount to 8.2 percent.

In 2014, Uzbekistan's GDP grew by 7.9 percent.

The Uzbek government forecasted the economic growth at 8.1 percent in 2014.

Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova

Follow us on Twitter @AzerNewsAz