As noted by experts from the World Bank, economic growth will nearly halve in 2025 and 2026 compared to 2021. The World Bank’s report on the economy of the Europe and Central Asia region, published on October 17, 2024, states that this year economic growth in the region may slow down to 3.3 percent compared […]
As noted by experts from the World Bank, economic growth will nearly halve in 2025 and 2026 compared to 2021.
The World Bank’s report on the economy of the Europe and Central Asia region, published on October 17, 2024, states that this year economic growth in the region may slow down to 3.3 percent compared to 3.5 percent in 2023.
According to the bank’s report, over the past four years, Tajikistan and Uzbekistan have experienced economic growth that generally exceeds the regional averages.
It is noted that the economy of the Europe and Central Asia region is stabilizing after a crisis period, but economic growth is much lower than in the early 2000s.
According to the World Bank, economic growth in Tajikistan was 9.4% in 2021, 8.0% in 2022, and 8.3% in 2023.
It is expected that national economic growth will decline somewhat, with growth in Tajikistan projected to be 7.2% in 2024. According to World Bank forecasts, Tajikistan’s national economic growth will slow down even more in the coming years. Thus, it is projected that economic growth in Tajikistan will be 5.5% in 2025 and 5.0% in 2026.
One of the main reasons for the slowdown in growth is cited as the repayment of loans and interest on loans.
The report notes that Uzbekistan’s economic growth was 8.0% in 2021, 6.0% in 2022, and 6.3% in 2023. It is expected that this year Uzbekistan’s national economic growth will reach 6.0%. According to forecasts, economic growth will be 5.8% in 2025 and 5.9% in 2026.
According to forecasts, this year economic growth in the Europe and Central Asia region may slow down to 3.3 percent compared to 3.5 percent in 2023, and in 2025 it may drop to 2.6 percent.
This is significantly lower than the average annual figure of 5.1 percent from 2000 to 2009, and far below the level needed for countries in this region with average income to achieve the goal of attaining high-income status within the lifetime of the next two generations.
In its report, the World Bank recommends a deep modernization of the education systems in the region, especially higher education systems, “in order to develop the human capital and workforce potential necessary for renewing economic growth and accelerating convergence with high-income countries.”