Baku, Azerbaijan, April 17
By Fikret Dolukhanov – Trend:
The International Monetary Fund (IMF) has kept the forecast for Uzbekistan's economic growth rate for 2018 at the level of five percent, the updated World Economic Outlook report said.
The Fund earlier forecasted the growth rate of Uzbekistan's GDP in 2018 at the level of five percent. The forecast was made following the visit of the IMF delegation led by Albert Jaeger to Uzbekistan.
According to the updated report of the IMF, the economy of Uzbekistan increased by 5.3 percent in 2017.
The IMF forecasted 19.5-percent inflation in 2018 and 12.9 percent in 2019 compared to 12.5 percent in 2017.
The current account balance of Uzbekistan was 3.7 percent of GDP in 2017. According to the IMF forecast, the figure will be 0.2 percent of GDP in 2018, and is expected to decline by 1.1 percent of GDP in 2019.
According to the Fund, the economy of Uzbekistan will continue to grow in connection with the implementation of programs for the modernization of industry and infrastructure.
It was reported earlier that the GDP of Uzbekistan amounted to 64.9 trillion soums in 1Q2018, which is 5.1 percent more compared to the 1Q2017.
Uzbekistan became a member of the IMF in 1992. The Fund’s representative office has been operating in the country since 1993.
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