IMF expects GDP growth in Turkmenistan, Uzbekistan and Tajikistan against the backdrop of a pandemic
The International Monetary Fund in its April survey (World Economic Outlook: The Great Lockdown) gave a forecast for development of the economies of Central Asian counties in 2020. It is reported by FINMARKET.RU. Thus, IMF predicts a decline in Kazakhstan’s GDP in 2020 by 2.5%. Earlier, the Fund expected Kazakhstan’s GDP growth in 2020 by 3.9%. The Fund also changed the forecast for Kyrgyzstan’s GDP this year from a 3.4% increase to a decrease by 4%. At the same time, the IMF forecast for the GDP growth in Turkmenistan and Uzbekistan in 2020 only decreased from 6% to 1.8% and in Tajikistan from 4.5% to 1%. IMF identifies the situation with curbing the spread of coronavirus as the reason for the sharp slowdown in the economies of Central Asian counties. As for 2021, IMF predicts the economic growth of all Central Asian states. According to the Fund’s forecasts, the GDP growth rates will be 4.1% in Kazakhstan, 8% in Kyrgyzstan, 6.4% in Turkmenistan, 7% in Uzbekistan, and 5.5% in Tajikistan.
