World Bank improves 2012 GDP growth forecast for Ukraine to 8%
2012-01-19 12:30:49
The World Bank has improved its GDP growth forecast for Uzbekistan in 2012 but noticeably worsened the 2013 growth forecast, the bank said in its report "Global Economic Perspectives 2012" published on Tuesday.
The report said that Uzbekistan's GDP this year will increase by 8% compared to the 7.8% growth forecast proposed in a World Bank report from June 2011. The bank expects economic growth in 2013 to come to 6.5% even though the growth forecast published six months stood at 7.5%
According to the World Bank's forecasts, the country's balance of payments surplus for this year will come to 7% of GDP and 6% in 2013.
According to the bank, Uzbekistan's GDP will increase for 2011 by 8.2%. The country's current account balance will come to 8.1% of GDP. The forecast from June put GDP growth this year at 8%.
The Uzbek government forecasts GDP growth in 2012 at 8.2%.
Uzbekistan became a member of the World Bank in 1995. Since then, the bank has provided the country with around $1.46 billion in loans and credit facilities.