A number of large natural resource projects could lead to economic growth in Central Asia, according to the European Bank for Reconstruction and Development.
The European Bank for Reconstruction and Development recently released a new Regional Economic Prospects report that detailed the effect of new natural resource deposits in Kazakhstan and Turkmenistan, which is expected to boost output growth in the first two to three quarters of 2014, according to Azer News.
Kyrgyzstan and Turkmenistan are expected to see a deceleration in their growth due to weaker demand and remittances flows from Russia.
Large natural resource exploration projects are expected to stay on track and to make a sizeable contribution to growth over the medium term, according to the report.
"In Kazakhstan, GDP growth slowed from 7.5 percent in 2011 to around 5 percent in 2012 owing to the more difficult external environment. Growth then picked up to 5.7 percent in the first three quarters of 2013 on the back of resilient investment. It is expected to remain around this level in 2013, supported by an expansion of oil output," the report said, Azer News reports.
- THE WORLD BANK: Jobs of the future require more investment in people
- VTB BANK - ARMENIA: VTB acquires Sarovbusinessbank
- THE WORLD BANK: Sri Lanka Has the Potential to More Than Double Its Exports to South Asia
- THE BLACK SEA TRADE AND DEVELOPMENT: BSTDB launched a call for expression of interest for website design services
- SEB - UKRAINE: SEB joins finance- and sustainability board
- SOBINBANK - RUSSIA: New features of the DBO Bank-Client
- ROSBANK - RUSSIA: Anastasia Bushueva Appointed Chief Accountant - Director of Accounting and Reporting Department of Rosbank
- NIKOIL - RUSSIA: Bank URALSIB entered the Top 10 media ratings of Russian banks in August
- MINISTRY OF FINANCE OF GEORGIA: The European Code of Customs Code will be launched in Georgia
- MINISTRY OF FINANCE OF UKRAINE: Ministry of Finance launches second module of "E-Data" project - open "Budget for citizens"