S&P raised the forecast of economic growth in Uzbekistan to 5.4 percent
Economy
The international rating agency S&P in its latest report confirmed the sovereign credit rating of Uzbekistan at the level of "BB-" (stable) and predicted the average GDP growth of Uzbekistan in the period from 2023 to 2026 at the level of 5.4 percent.
In the next report of the International Rating Agency "S&P" on the sovereign credit rating of Uzbekistan, published on June 5 of this year, it was noted that the rating of the republic remained unchanged at the level of "BB-", with a stable outlook, the press service of the Ministry of Economy and Finance reported.
According to the agency's calculations, in 2023 it is expected that the government's liquid assets will amount to 18.5 percent of gross domestic product (GDP), and the international reserves used will amount to 30.4 percent of GDP.
At the same time, the country's net position as an external creditor and a moderate burden of net public debt are indicated as factors supporting the credit rating of the republic.
The report notes that, despite the impact of external shocks, Uzbekistan continues to implement the reform program, and the pace of economic growth remains stable.
The agency's February report predicted that Uzbekistan's GDP would grow by 5 percent in 2023 and by 5.5 percent in 2024-2025. According to the agency's new forecasts, the country's real GDP growth is expected to average 5.4 percent in 2023-2026. In particular, the level of foreign trade and consumption of the economy serves as the main engine of economic growth, and efforts to develop the private sector and improve the business environment support growth and reduce external shocks.
GDP per capita is projected to reach US$ 2,400 by 2023.
It is also noted that the public debt is currently at a moderate level, funding from domestic sources has increased, reforms are being implemented in the development of the government securities market.
According to the agency's calculations, in 2023 it is expected that the government's liquid assets will amount to 18.5 percent of gross domestic product (GDP), and the international reserves used will amount to 30.4 percent of GDP.
At the same time, the country's net position as an external creditor and a moderate burden of net public debt are indicated as factors supporting the credit rating of the republic.
The report notes that, despite the impact of external shocks, Uzbekistan continues to implement the reform program, and the pace of economic growth remains stable.
The agency's February report predicted that Uzbekistan's GDP would grow by 5 percent in 2023 and by 5.5 percent in 2024-2025. According to the agency's new forecasts, the country's real GDP growth is expected to average 5.4 percent in 2023-2026. In particular, the level of foreign trade and consumption of the economy serves as the main engine of economic growth, and efforts to develop the private sector and improve the business environment support growth and reduce external shocks.
GDP per capita is projected to reach US$ 2,400 by 2023.
It is also noted that the public debt is currently at a moderate level, funding from domestic sources has increased, reforms are being implemented in the development of the government securities market.
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