Azerbaijan, Baku, July 20 / Trend A. Badalova /
Asian Development Bank (ADB) slightly raised forecasts for economic growth in Central Asia in 2010.
The ADB's special report published on the official website of the bank said that the improving global economic conditions, as well as high oil prices supported economy of Central Asia during the last season.
ADB predicts this year's growth in the region at 4.8 percent compared to 4.7 percent forecasted by the Bank in April.
The Central Asian region includes such countries as Azerbaijan, Georgia, Armenia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.
The growth of manufacturing industry, transport and trade sector of Georgia in the first quarter exceeded expectations, the report said. The economic situation in Kyrgyzstan remains unsolved.
The ADB has increased forecast of economic growth of developing countries in Asia in 2010 from 7,5 percent to 7,9 percent. Updated forecasts are associated with significant increases observed in the first quarter of the year, in particular, due to increased exports and strong private demand.
Nevertheless, the bank retains concerns about the downside risks in the second half of the year, which include unpredictable private domestic demand, currency fluctuations and risks of a significant movement of capital. In this regard, ADB's forecast for economic growth for 2011 is unchanged - at 7.3 percent.
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