The Asian Development Bank has revised its growth forecasts for the Central Asian countries upward.
The ADB raised it from 4.3% to 4.5% in 2024 and from 5% to 5.1% in 2025. This is due to stronger-than-expected economic growth in Kyrgyzstan.
In the first quarter of 2024, it was 8.8% in Kyrgyzstan, thanks to high production in the services and construction sectors, financed by domestic and foreign investment.
Tajikistan showed strong economic growth of 8.2% due to a sharp increase in exports, including gold sales.
The ADB report does not provide data on Turkmenistan, but notes economic growth due to public investment and gas exports.
In the first half of the year, Uzbekistan's economic indicators grew by 6.2% due to an increase in investment in fixed assets.
Kazakhstan's economic growth rate was 3.7% due to construction, manufacturing, and services.
Earlier, the EFSD gave a forecast for GDP growth in the fund's member countries, with Tajikistan leading the rating.
CentralasianLIGHT.org
July 18, 2024