ESCAP projects the economic growth in Uzbekistan and Afghanistan for this year

Almaty. April 28. Silkroadnews – The economic growth is projected for Uzbekistan and Afghanistan this year, the data provided by the “Economic and Social Survey of Asia and the Pacific 2016” by ESCAP.
Kyrgyzstan’s economic growth was mainly stable at 3.5% in 2015.

“The economic growth is projected to fall to 2.5% in 2016, while the production of gold will remain weak. In 2017 the growth is expected to reach 4% and will depend on the stabilization of world commodity prices and the sub-region’s (Central Asia – Silkroadnews) economic recovery,” the report says.

The document notes the high economic growth of Uzbekistan standing at 8% level in 2015, making the country a fastest-growing economy in the sub-region.

“Growth is projected at a high level – 7.8% in 2016 followed by 8% in 2017. Domestic demand will support the growth further. Exports of goods and remittances inflow are likely to be weak due to low world prices for oil, gold and cotton and other sub-regional countries’ suppressed economic activity,” the review says.
Tajikistan’s economic growth in 2015 slowed down to 6% compared to 6.8% in 2014.

“Further growth will be moderate – 5% in 2016 and 5.2% in 2017. Labor migrants’ remittances and the immediate prospects for economic growth will still be overshadowed by Russia’s weak economic activity,” the document says.
At the same time, the economic growth in Afghanistan in 2015 improved slightly to 2% compared to 1.3% in 2014, driven by the public services, construction and telecommunications sectors.

“Growth is expected to increase further to 3% in 2016 and 4% in 2017,” review notes.