IMF: Uzbekistan needs to restrain credit growth
From 19 to 28 February, the IMF delegation held working meetings and formal negotiations with a number of ministries and state organizations. According to the results of the work, the organization has published a concluding statement.
From 19 to 28 February, the IMF delegation held working meetings and formal negotiations with a number of ministries and state organizations. According to the results of the work, the organization has published a concluding statement.
In general, the review of the economy of Uzbekistan came out positive. Along with GDP growth, lower inflation and investment inflows, there are risks that still remain. The head of the Mission Albert Huntsman called two of them:
"Both are short-term. First – the external environment of Uzbekistan may become worse than expected. The main threat is some slowdown in global economic growth. The demand for Uzbek goods in the foreign market may be weaker. The second risk is that we are seeing an increase in loans to the economy, which can lead to the so-called "overheating" of the economy in a few years. In 2018, the size of loans increased by almost 50%, this is a very high figure."
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