EDB has published a report on the economic growth of Central Asia over the past 20 years
The Eurasian Development Bank has published an analytical report on the topic "The Economy of Central Asia: a new look", which aims to form a new view of the region as dynamically developing and economically promising, the official website of the EDB reports.
According to statistics, the total GDP of the countries of the region has increased 7.5 times in 20 years and amounted to $347 billion, the population has increased by 1.4 times and amounted to 77 million. The average annual economic growth remains high — 6.2%, while other countries on average had two percent growth. GDP by purchasing power increased 3 times, investments in the region are estimated at $211 billion, foreign trade turnover increased 6 times, amounting to $165.5 billion.
The bank's analysts believe that the main factors of intensive economic growth in the region are:
– advantageous geographical location,
– export-oriented industry,
– a powerful energy complex that has been modernized for 20 years and is now estimated at $52.8 billion,
– mobility of the population and interest in the formation of sustainable transport and logistics hubs, such as in the Caspian Sea.
At the same time, the main economic barriers are mentioned, among which are the lack of access to the sea, issues related to water resources, as well as climate change. In this context, special attention is paid to the need to attract investment in low-carbon technologies and "green" projects.
ORIENT news
Photo: fergana.agency
