DUSHANBE, 07.01.2021 (NIAT Khovar) – In their new report Global Economic Prospects: Europe and Central Asia, World Bank analysts forecast GDP growth in Central Asian countries, including Tajikistan for the coming years.
The region’s economic growth is projected to be moderate in 2021. Central Asia is expected to recover to 3% economic growth this year, driven by modest increases in commodity prices and foreign direct investment as the subregion becomes more involved in China’s Belt and Road Initiative, the report reads.
According to the World Bank’s forecast, GDP growth in Tajikistan in 2021 will be 3.5, and in 2022 — 5.5%. These indicators in Kazakhstan are respectively equal to 2.5% and 3.5%, in Kyrgyzstan — 3.8% and 4.5%, in Uzbekistan 4.3% and 4.5%.
Meanwhile, analysts note that the prospects for economic growth in Central Asia are very vague, especially given the spread of a new strain of coronavirus and a surge in incidence.
Earlier the Eurasian Development Bank (EDB) also gave a forecast on the rates of economic growth in Tajikistan. According to EDB experts, with a favorable outcome, Tajikistan can gradually restore the pace of GDP dynamics and return to previous growth by 2022.
The World Bank report also notes that within 15 months — until the end of June 2021 — the World Bank Group will provide up to $160 billion in financial assistance to more than 100 countries to protect the poor and vulnerable, support businesses and accelerate economic recovery. This amount includes new resources of the International Development Association worth $50 billion in grants and concessional loans and $12 billion allocated for developing countries to finance the purchase and distribution of COVID-19 vaccines.