The country’s economy will grow faster than all countries of Eastern Europe and Central Asia.
The World Bank predicts that the economy of Uzbekistan in 2020 will grow by 5.7%, follows from the report of the organization “Prospects for the world economy, January 2020: slow growth, political challenges”.
This is the highest rate among countries in Eastern Europe and Central Asia. In the second place is Tajikistan (5.5%), the third is Turkmenistan (5.2%), the fourth is Armenia (5.1%), and the fifth is Georgia (4.3%).
In 2021 and 2022, the economy of Uzbekistan will grow by 6%, according to the organization. This is also the best indicator among the countries of the region.
Among the main risks that can slow down the development of the entire region, analysts call geopolitical turbulence, increased policy uncertainty, as well as external factors – a slowdown in the Eurozone and China. In 2019, the World Bank predicted the country’s growth of 5.5%.