Macroeconomic Forecast Uzbekistan

After a strong 2006 real GDP growth figure of 7.2%, we expect 7.5% this year, and an average of 6.9% over a five year time horizon. However, we think that the country, despite increasing foreign direct investment, is likely to remain dependent upon the natural resources and agricultural sectors. As a result unemployment, and underemployment, will stay high. That being said, we expect the disinflationary environment to remain in place over the coming years, falling into single figures from 2009

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