UN: Central Asian economy shows signs of sustainable growth
In 2017, global economic growth amounted to 3%. This is the maximum indicator for the period after 2011, experiencing several crisis waves and instability in global commodity markets. The experts forecast similar growth rates for 2018-2019, says the report "World Economic Situation and Prospects - 2018", published on Monday by the UN Department of Economic and Social Affairs. The main factors that have influenced the strengthening of global GDP are sustained growth in several developed countries, the recovery of world trade and the improvement of investment conditions. According to the authors of the report, in the coming years the economy of the countries of Central Asia will develop more dynamically than other CIS members. The forecasts are based on the expansion of the stronger inflow of remittances, the implementation of the Chinese initiative "Belt and Road", and in some cases, progress will be achieved through the fiscal financing of development projects. In general, in most CIS countries relatively moderate growth is expected. GDP in the Commonwealth in 2017 will grow by 2.2%. In the next two years, this figure will reach 2.3% and 2.4%, respectively. An upturn in the world economy lays the foundations for reorienting efforts on such long-term issues as addressing climate change, eliminating existing inequalities and removing institutional obstacles to development. The report notes that addressing these challenges will lead to increased investment and productivity, more intensive job creation and sustained economic growth in the medium term.
