Thursday, March 29, 2007

Asian Development Bank Estimates for GDP Growth

The GDP growth outlook for Armenia in 2007 was upgraded from 6% to 10%; next year, GDP growth in Armenia will total 9%
Experts of Asian Development Bank estimate Turkmenistan's GDP growth at 8.5% in 2007

The Asian Development Bank (ADB) has reconsidered prospects of GDP growth in a number of Caucasian and Central Asian states in 2007 and published economic outlook for 2008. The report was posted on the ADB official web site ( According to this report, the growth of Central Asian economies will be robust in 2007-2008.

The growth rate for Turkmenistan in 2007 has been increased from 6.5% to 8.5%. GDP growth estimates for 2008 also stand at 8.5%. It is reported that potential discovery of new gas fields, social and economic reforms and Turkmenistan's cooperation with the world community were taken into consideration. As regards economic performance in 2006, the GDP growth (9% by ADB estimates) was determined by gas prices hike and increase in exports.

The GDP growth outlook for Armenia in 2007 was upgraded from 6% to 10%; in Azerbaijan - downgraded from 30% to 25%; in Kazakhstan - downgraded from 9% to 8.6%; in Kyrgyzstan - downgraded from 5.5% to 4%. GDP growth for Tajikistan in 2007 was increased from 6% to 7.5%; Uzbekistan - from 6% to 7.4%. Next year, GDP growth in Armenia will total 9%, in Kazakhstan - 8.9%, in Kyrgyzstan - 5%, in Tajikistan and Uzbekistan - 7.1%, according to ADB estimates.

The Asian Development Bank was established in 1966 to promote economic growth in Asia and Far East. Turkmenistan joined ADB in 2000.

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.



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