Interfax cited Mr Rustam Azimov Deputy Prime Minister of Uzbekistan as saying that Uzbekistan increased its GDP 8.2% in January to September 2011.

Mr Azimov said the budget saw a surplus of 0.4% of GDP and inflation did not exceed forecasts.

Industrial production grew 7%YoYr, agricultural production was up 6.8% and consumer goods production increased 11.4%. Retail trade turnover grew 16.2%, services climbed 14.2% and exports increased 21.4%. GDP in Uzbekistan grew 8.5% in 2010. Industrial production increased 8.3% and agricultural production was up 6.8%.

The government of Uzbekistan forecasts 8.3% GDP growth in 2011, a 9.3% increase in industrial production, 5.8% for agricultural production and 15.4% for retail trade turnover. It plans to keep inflation between 7% and 9%.

The European Bank for Reconstruction and Development lowered its forecast for GDP growth in Uzbekistan in 2011 to 7% in October from 8.5% in July and to 7.5% from 8% respectively for 2012. The International Monetary Fund in September increased its 2011 GDP growth forecast to 7.1% from 7% and said inflation would be 13.1% instead of the earlier forecast 11.6%. It said GDP would go up 7% in 2012 and inflation would be 11.8%.

(Sourced from Interfax)