The Asian Development Bank in its flagship report Asian Development Outlook 2013 expects general improvement in Central Asian economies. The bank expects GDP growth in Kyrgyzstan to grow by 5.5% in 2013 (lower than 7% projected by the government) after economy contracted 0.9% last year. In case of Tajiksitan, the ADB expects GDP to slow to 6.5% in 2013 and 6% in 2014 from 7.5% seen in 2012. The bank noted that joining the WTO last year would provide opportunities for the country. Turkmenistan's GDP is projected to grow by 9% in 2013 and by 8% in 2014, down from 11.1% seen in 2012. The bank expects growth to be driven by higher oil and gas output in coming years. Uzbekistan's GDP is projected to increase by 7.5% in 2013, and by 8% in 2014.This would be below last year's indicator of 8.2%. The ADB noted that a more sophisticated and diversified industrial and export base is needed to sustain growth and expand employment.
Related Articles
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
Construction work on $4.6bn Trans-Afghan Railway could reportedly be under way within six months
Construction work on the proposed Trans-Afghan Railway could be under way within six months, while the project could cost around $4.6bn to deliver and cut shipping transit times from Uzbekistan to ... more
Unusually intense heatwave hit Central Asia in March, may impact crop yields
Central Asia experienced an unusually intense heatwave in March that could have an impact on agricultural crop yields, according to an April 4 ... more