ADB lowers growth forecast for Central Asian economies to 5.8 percent in 2012 amid falling oil prices and European debt crisis
2012-07-17 16:55:16
ADB’s Asian Development Outlook Supplement says that falling oil prices and the ongoing Eurozone crisis are likely to affect Central Asia, where economic growth began to slow in the first half of 2012. Growth in Central Asia is expected to be 5.8 percent 2012, 6.1 percent lower than in the previous forecasts.
The Asian Development Bank has lowered its growth forecast for Central Asian economies this year to 6% amid falling oil prices and the crisis in the Eurozone, according to the bank’s report. ADB has predicted that inflation will exceed 7 percent this year in the region, KazTAG reported.