Macroeconomic Forecast Uzbekistan

According to recent data released by the State Committee of the Republic of Uzbekistan on Statistics, retail trade turnover was up 8.3% y-o-y in the first quarter of 2010, while paid services registered a 13.1% y-o-y increase over the same period. Strong leading indicators are suggestive that the consumer sector continues to hold up strongly. This comes on the back of Uzbekistan's relative isolation from foreign capital markets as well as state support for the banking sector throughout the global downturn.

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