• Sign in
  • 1744009905_435.svg 1744009905_642.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12768.26
    • RUB162.63
    • EUR14400.04
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +18°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    Uzbekistan Central Asia Kazakhstan

    Central Asian economies projected to sustain growth despite challenges

    Central Asian economies projected to sustain growth despite challenges

    In the face of recent natural disasters and regional challenges, Central Asian economies are projected to maintain growth throughout 2024 and 2025, according to the latest Regional Economic Prospects (REP) report released by the European Bank for Reconstruction and Development (EBRD).

    Despite a temporary slowdown in 2024 due to severe floods in Kazakhstan and extreme cold weather in Mongolia, the region is expected to rebound, with growth rates reaching 5.9% in 2025. Kazakhstan, the largest economy in the region, is forecasted to expand by 5.5% in 2025, overcoming the setbacks experienced in the previous year.

    Uzbekistan, another key player in the region, is poised to witness economic expansion, with GDP projected to grow by 6.5% in 2024 and 6.0% in 2025. This growth is fueled by factors such as rapid credit expansion, rising remittances, and international arrivals, along with ongoing tariff reforms aimed at reducing energy subsidies.

    The REP report highlights the resilience of Central Asian economies in the face of adversity. Despite the challenges posed by natural disasters, the region has experienced substantial growth in publicly and privately financed investments in critical sectors such as transport, logistics, and export-oriented manufacturing.

    Growth in wages and real incomes, coupled with technological advancements in consumer lending, has fueled a consumption boom in the region. Increased international arrivals and tourism have further bolstered economic activity, while intra-regional trade and cooperation have continued to strengthen.

    However, the report also points out some challenges that lie ahead. Central to the public policy agendas of the region in 2024-25 is the urgent need for infrastructure improvements, implementation of politically sensitive tariff reforms, and efforts to reach regional agreements on shared resources like transport, water, and energy.

    In Kazakhstan, while GDP growth is expected to be supported by an expansion in non-oil sectors in 2024, the full impact of severe floods remains to be assessed. The government's elevated spending is anticipated to mitigate the effects on aggregate demand, with GDP forecasted to grow by 4.5% in 2024 and 5.5% in 2025.

    Similarly, in Uzbekistan, ongoing tariff reforms are expected to contribute to economic growth by reducing public expenditures. However, challenges related to chronic energy and water deficits may constrain growth despite the positive outlook.

    According to the REP report, Kazakhstan’s economy is expected to expand by 5.5% in 2025 despite a temporary slowdown in 2024, with GDP growth forecasted to be 4.5% in 2024. Uzbekistan’s GDP is projected to expand by 6.5% in 2024 and 6.0% in 2025. The report anticipates growth rates reaching 5.9% in 2025 for Central Asian economies, following a temporary slowdown to 5.4% in 2024.

     

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

    16.05.2024, 15:01   Comments (0)   1322
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    EBRD invests $20mn in Uzbekistan’s Ipak Yuli Bank

    03.05.2024, 09:36

    EBRD supports expansion of Uzbekistan’s Star Group with $14mn loan 

    16.05.2024, 10:00

    Uzbekistan's GDP growth to reach 6.5% in 2024, EBRD forecasts

    16.05.2024, 01:33

    Asian Women's Forum leads push for tech inclusion and diversity 

    16.05.2024, 12:52

    Baltika wins lawsuit against Carlsberg Kazakhstan over brand license

    16.05.2024, 12:30

    Uzbekistan and UN Women sign memorandum to advance gender equality

    16.05.2024, 12:00
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    Beeline Uzbekistan started 2025 with a significant network modernization


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024

     

    Recommended

    "We wouldn’t have won without U.S. aid" – The hidden truths behind the USSR’s World War II victory

    12 May, 15:39

    Uzbekistan's banking deposits surge to $25.2bn in March

    8 May, 17:24

    Uzbekistan to host 59th ADB Annual Meeting in Samarkand for second time

    8 May, 11:26

    Uzbekistan sees rise in cross-border travel as outbound tourism jumps 20%

    7 May, 12:38
     
     
     

    Latest news

    Kazakhstan weighs China’s $5.47bn nuclear offer over Russia’s costlier bid

    Kazakhstan | 31 May, 15:45

    “Uzbekistan could have gone to war with neighboring countries" – says Abdulaziz Kamilov

    Uzbekistan | 31 May, 12:06

    President of Uzbekistan proposes “Central Asia–Italy” business club to boost cooperation

    Uzbekistan | 31 May, 10:01

    Kyrgyzstan open to global cooperation in fintech and digital economy, says PM Kasymaliev

    Kyrgyzstan | 30 May, 17:39

    Tashkent ranks among Central Asia’s top 3 cities in Global Cities Index 2025

    Uzbekistan | 30 May, 15:07

    Uzbeks migrating to Khanty-Mansi region are returning to their ancestral lands, says Russian MP

    Uzbekistan | 30 May, 14:00

    Kazakhstan and Italy explore investment fund to advance agro-industrial complex

    Kazakhstan | 30 May, 13:05

    Uzbekistan, Pakistan explore joint textile production as Yunus Textile Mills eyes investment opportunities

    Uzbekistan | 30 May, 12:00
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.