Economy / Uzbekistan
Macroeconomic Forecast Uzbekistan
August 2009 | Macroeconomic ForecastsThe Uzbek som continues to depreciate through the crawling peg arrangement, trading at UZS1,494/US$ on August 27. We forecast further depreciation towards UZS1,560/US$ by the end of the year as the government and monetary authorities attempt to bolster the ailing export sector. Beyond 2009, we expect steady and sustained depreciation over the medium term, and target an end-2013 forecast of UZS1,896/US$.
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