The World Bank has improved the forecast of economic growth of Uzbekistan
Economy
According to the new forecasts of the World Bank, the world economy will grow by 2.1 percent this year, in contrast to the expected 1.7 percent in January, and Uzbekistan's economic growth forecast has been improved from 4.9 percent to 5.1 percent.
The World Bank has improved its forecast for global economic growth in 2023 to 2.1 percent, as opposed to the expected 1.7 percent in January. This is reported in the organization's report on the prospects of the global economy, published on Tuesday, June 6.
Also, according to new forecasts, Uzbekistan's GDP growth this year will be 5.1 percent, compared with the January forecast of 4.9 percent. Uzbekistan's economy is projected to grow further to 5.4 percent next year, and to 5.8 percent by 2025.
"In Uzbekistan, the government intends to continue partial privatization of state-owned enterprises and banks. These structural reforms aimed at improving competitiveness and stimulating the private sector are likely to increase potential growth in the long term," the report notes.
In developed economies, GDP growth will slow this year to 0.7 percent compared with 2.6 percent in 2022, the World Bank predicts. The growth rate of the US economy will slow down to 1.1 percent this year and to 0.8 percent in 2024.
In the eurozone, growth in 2023 will be 0.4 percent compared to 3.5 percent in 2022. The reason economists call the delayed effect of tightening monetary policy and rising energy prices.
Also, according to new forecasts, Uzbekistan's GDP growth this year will be 5.1 percent, compared with the January forecast of 4.9 percent. Uzbekistan's economy is projected to grow further to 5.4 percent next year, and to 5.8 percent by 2025.
"In Uzbekistan, the government intends to continue partial privatization of state-owned enterprises and banks. These structural reforms aimed at improving competitiveness and stimulating the private sector are likely to increase potential growth in the long term," the report notes.
In developed economies, GDP growth will slow this year to 0.7 percent compared with 2.6 percent in 2022, the World Bank predicts. The growth rate of the US economy will slow down to 1.1 percent this year and to 0.8 percent in 2024.
In the eurozone, growth in 2023 will be 0.4 percent compared to 3.5 percent in 2022. The reason economists call the delayed effect of tightening monetary policy and rising energy prices.
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