(MENAFN- Trend News Agency) TBILISI, Georgia, May 4. Economic growth in theCaucasus and Central Asia will recover in 2025, ADB DirectorGeneral for Central and West Asia Eugenue Zhukov said during abriefing at the ADB annual meeting in Tbilisi on May 4, Trend reports.
“In the Caucasus and Central Asia, growth remained at 5.3percent and is expected to slow to 4.3 percent in 2024 and recoverto 5 percent in 2025," he said.
According to him, economic growth in Kazakhstan accelerated toreach 5.1 percent in 2023, driven by both oil and non-oil sectors,as well as private and public consumption and investment. However,in Azerbaijan, growth was significantly impacted by lower oilproduction.
“In Armenia, Georgia, and the Kyrgyz Republic, growth slowedafter exceptionally high levels in 2022 as external secondaryeffects diminished. In Tajikistan, Turkmenistan, and Uzbekistan,economic growth accelerated in 2023 due to faster industrial andagricultural development,” added Evgenue Zhukov.
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