In 2022, the factors affecting the macroeconomic situation and their characteristics have changed sharply from previous years, - the Central Bank of Uzbekistan says.
According to the Central Bank, from the end of 2021 and the first months of 2022, economic recovery began to be observed in most countries of the world.
However, the world economy observed the conflict between Russia and Ukraine and fluctuations in the energy market, the high inflationary pressure caused by the delay in adjusting the volume of supply to the high demand, and the tightening of the monetary policy since February.
According to the report, economic activity in the main partner countries of Uzbekistan is expected to be lower than the level in 2022.
In this regard, economic growth in China in 2023 is forecasted to be around 4.4-4.5 percent, in Kazakhstan 3.5-4.4 percent, and in Turkey 2.7-3 percent.
In Russia, economic contraction is expected to continue in 2023, and positive growth rates will be achieved in 2024.
As a result of the relative slowdown of economic activity and the maintenance of oil prices at the current level, high fluctuations in the national currencies of the main trading partners are not expected.
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