TASHKENT, Jul 28 (NNN-UzA) – Uzbekistan’s central bank, yesterday, kept its key interest rate unchanged at 14 percent, due to the persistence of demand-side pressures on prices.
The bank said that, Uzbekistan’s GDP is expected to be higher than projected, at the beginning of the year.
“Due to the continued adaptation of the economy to external economic conditions, and the persistence of uncertainties, real GDP growth by the end of 2023 is expected to be around 5-6 percent,” it said in a statement.
In Jan, the central bank projected the economy would grow by 4.5-5 percent.
The bank expects increased incomes, fiscal stimulus and higher activity in the service sector, to be the main drivers of economic growth.– NNN-UzA
