The European bank for Reconstruction and Development (EBRD) lowered its forecast on the growth of the gross domestic product (GDP) in 2016 from 7.2% to 6.5%, the May report “Regional Economic Prospects in EBRD Countries of Operations” said.
According to the forecast of the EBRD experts, the growth of economy of Uzbekistan will make up 6.2%. The Bank noted that Uzbekistan’s GDP in 2015 grew by 8%.
The bank underlined that the forecast was decreased due to reduction of remittances and prices to global markets, as well as internal structural problems.
The EBRD forecasted that the inflation level in Uzbekistan will make up 9% in 2016. The same level was forecasted for 2017 as well.