Economy To Continue Bucking The Global Trend

Despite the ongoing global economic downturn, the Uzbek economy continues to buck the trend by posting positive and accelerating growth during Q209. The resilience of the economy partly owes to base effects and the lack of integration with the international financial system, though we stress that statistical reporting could overstate the health of the economy somewhat. Regardless, we now forecast real GDP growth of 7.6% this year, from a previous projection of 5.1%

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