INTERNATIONAL ORGANIZATION: CENTRAL ASIAN ECONOMY IS RECOVERING GROWTH
NUR SULTAN, APRIL 5TH (XINHUA) - THE LATEST ECONOMIC DEVELOPMENT FORECAST FOR CENTRAL ASIAN COUNTRIES HAS BEEN RELEASED RECENTLY. RELEVANT DATA SHOW THAT THE ECONOMY OF CENTRAL ASIA IS GETTING RID OF THE IMPACT OF THE COVID-19 AND GRADUALLY RECOVERING ITS GROWTH.THIS PREDICTION WAS MADE AFTER EVALUATING THE ECONOMIES OF CENTRAL ASIAN COUNTRIES BY THE WORLD BANK AND THE EURASIAN DEVELOPMENT BANK. AMONG THEM, THE WORLD BANK HAS RAISED ITS ECONOMIC GROWTH FORECAST FOR KAZAKHSTAN, THE LARGEST ECONOMY IN CENTRAL ASIA, FROM 2.5% IN 2021 TO 3.2%, AND THE GROWTH RATE IS EXPECTED TO REACH 3.5% IN 2022. THE EURASIAN DEVELOPMENT BANK STATED THAT THE COUNTRY'S ECONOMY IS ENTERING A "RAPID RECOVERY PERIOD", WITH AN EXPECTED ECONOMIC GROWTH RATE OF 4% THIS YEAR AND 4.5% AND 5.1% RESPECTIVELY IN THE NEXT TWO YEARS.IN UZBEKISTAN, THE SECOND LARGEST ECONOMY IN THE REGION, THE WORLD BANK EXPECTS ITS GROSS DOMESTIC PRODUCT (GDP) GROWTH RATE TO REACH 4.8% THIS YEAR AND INCREASE TO 5.5% IN 2022. MEANWHILE, IT IS EXPECTED THAT THE NATIONAL DEBT TO GDP RATIO WILL REACH 42% THIS YEAR.IN ADDITION, THE WORLD BANK PREDICTS THAT KYRGYZSTAN, WHICH EXPERIENCED AN 8.6% DECLINE IN GDP IN 2020, WILL SEE A 3.9% GROWTH THIS YEAR. HOWEVER, DUE TO THE DECLINE IN RESIDENTS' INCOME AND HIGH INFLATION, THE POVERTY RATE AMONG RESIDENTS WILL INCREASE BY 4 PERCENTAGE POINTS, REACHING 35%. DATA SHOWS THAT DUE TO THE IMPACT OF THE EPIDEMIC, THE POVERTY RATE IN JILIN INCREASED FROM 20.1% TO ABOUT 31% IN 2020. TAJIKISTAN HAS THE LOWEST PER CAPITA GDP IN CENTRAL ASIA, AT APPROXIMATELY $800. THE EURASIAN DEVELOPMENT BANK PREDICTS THAT THE TAJIK ECONOMY WILL MAINTAIN RAPID GROWTH IN THE COMING YEARS, WITH AN EXPECTED ECONOMIC GROWTH RATE OF 6.1% IN 2021.IN TURKMENISTAN, ACCORDING TO DATA RELEASED BY THE GOVERNMENT, THE GDP GROWTH RATE FOR THE FIRST THREE MONTHS OF THIS YEAR WAS 5.9%. THE WORLD BANK PREDICTS THAT THE COUNTRY'S ECONOMY WILL GROW BY 4% IN 2021.