According to the EBRD report “Regional Economic Prospects in EBRD Countries of Operations”, the gross domestic product (GDP) of Uzbekistan will grow by 8.5% in 2011, as in 2010.

The EBRD experts said that seemingly unaffected by the crisis, Uzbekistan has remained on a strong growth path, with GDP picking up slightly from 8.1% in 2009 and 8.5% in 2010. High growth is expected to continue, reflecting favourable external conditions (higher cotton prices and demand for Uzbek exports) and expansionary fiscal policies.

The experts of the bank also announced their forecast for 2012. They noted that the economy of Uzbekistan will grew by 8% in 2012.

In line with the report, inflation rate in Uzbekistan will make up 11% in 2011 against 9.4% in 2010. Current account balance surplus grew from 6.7% to GDP in 2010 to 10% to GDP in 2011.

Net foreign direct investments will make up 3.2% to GDP in 2011 against 4.2% to GDP in 2010, the bank’s report said.