BAKU, Azerbaijan, May 15. The GDP growth in Central Asia is expected to reach 5.4 percent, Trend reports.
As such, the European Bank for Reconstruction and Development (EBRD) has revised downwards its forecast for regional economic growth by 0.5 percentage points, compared to the September 2023 outlook.
"Central Asian economies continued on a path of robust post-Covid recovery, aided by a wave of money, businesses and high-quality human capital from Russia and strong demand for key export commodities," the report noted.
Looking ahead to 2025, the bank expects Central Asia's GDP growth to reach 5.9 percent.
In 2023, the EBRD assessed the regional economic growth at 5.7 percent - up by 1.1 percentage points year-on-year (4.6 percent in 2022).
"Improving infrastructure, public management practices and human capital as well as politically sensitive tariff reforms, and efforts to reach a broad regional agreement on the use of shared resources, such as transport, water and energy, are likely to dominate the region’s public policy agendas in 2024-2025," the bank added.