Egypt's Cabinet approves amendments to North Zafarana oil development agreement    Gold prices in Egypt slip on Thursday, 20 Nov., 2025    IMF officials to visit Egypt from 1–12 Dec. for fifth, sixth reviews: PM    Al-Sisi, Putin mark installation of reactor pressure vessel at Egypt's first Dabaa nuclear unit    Egypt, Angola discuss strengthening ties, preparations for 2025 Africa–EU Summit in Luanda    Gaza accuses Israel of hundreds of truce violations as winter rains deepen humanitarian crisis    Egypt concludes first D-8 health ministers' meeting with consensus on four priority areas    Egypt, Switzerland's Stark partner to produce low-voltage electric motors    Egypt explores industrial cooperation in automotive sector with Southern African Customs Union    Deep Palestinian divide after UN Security Council backs US ceasefire plan for Gaza    Egypt scraps parliamentary election results in 19 districts over violations    Health minister warns Africa faces 'critical moment' as development aid plunges    Egypt's drug authority discusses market stability with global pharma firms    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Cairo hosts African Union's 5th Awareness Week on Post-Conflict Reconstruction on 19 Nov.    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Central Asian economies to grow by 5.4% in '24 – EBRD
Nada Ali Published in Amwal Al Ghad on 15 - 05 - 2024

Central Asian economies are projected to slow down at 5.4 per cent in 2024, followed by a rebound to 5.9 per cent growth in 2025, a latest report by the European Bank for Reconstruction and Development (EBRD) showed on Wednesday.
The report highlights a plateauing of intermediary trade with Russia, which previously fuelled significant growth for many Central Asian economies in 2023.
Additionally, severe weather events in Kazakhstan and Mongolia are expected to impact their short-term growth negatively. Despite these challenges, the region's overall outlook for both 2024 and 2025 remains positive.
Kazakhstan:
The EBRD forecasts Kazakhstan's GDP to grow by 4.5 per cent in 2024, with an acceleration to 5.5 per cent in 2025 due to higher oil production, agricultural rebound, and potential privatisations.
The region's largest economy, Kazakhstan, saw strong growth in 2023 driven by consumer demand and public spending. Retail and wholesale trade were pivotal, fuelled by rising wages and consumer lending.
Kyrgyz Republic:
The economy is projected to grow by 8.5 per cent in 2024 and seven per cent in 2025, driven by increased gold exports, higher remittances, ongoing construction activity, and strong domestic demand.
Mongolia:
Magnolia's growth is projected to slow to five per cent in 2024 but is expected to accelerate to 8 per cent in 2025 due to favourable external demand, increased agricultural output, and expansion of manufacturing and mining activities.
Tajikistan:
GDP is expected to grow by 7.5 per cent in 2024 and seven per cent in 2025 due to increased public infrastructure investment, policies encouraging private sector investment in import-substituting manufacturing and agriculture, and growth in remittances.
Agriculture contributes 25 per cent to GDP and employs 60 per cent of the population, with risks from climate change, adverse weather, and fluctuations in Russia's demand for Tajik labour.
Turkmenistan:
The economy is expected to grow by 6.3 per cent in 2024 and 2025, driven by increased public and private investment and diversification of gas exports through new contracts with Türkiye and Iran.
Uzbekistan:
The report revealed Uzbekistan's GDP to increase 6.5 per cent in 2024 and 6.0 per cent in 2025. The country's economy expanded by 6.2 per cent in the first quarter of 2024.
Download

Clic here to read the story from its source.