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Uzbekistan: Slower Growth Forecast As Currency Hits New Low

In a signal not all is well, Uzbekistan has posted a slightly below-average economic growth forecast for 2016.

And on the black market — typically a more reliable barometer of economic well-being than the generously massaged government statistics — the national currency, the sum, sank to new lows of 6,000 against the dollar on November 12.

Government figures on predicted gross domestic product (GDP) growth for next year, as reported by the UzA state news agency, suggest the authorities are gradually acknowledging Uzbekistan is not immune from the economic shocks roiling Central Asia.

According to a national budget for 2016 passed by Uzbekistan’s parliament on November 11, GDP will grow by 7.8 percent.

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Uzbekistan: Slower Growth Forecast As Currency Hits New Low

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