DUSHANBE, April 10, Asia-Plus — Tajikistan’s gross domestic product (GDP) is expected to rise only 4.1 percent in 2008 and 7 percent in 2009, according to the International Monetary Fund’s (IMF) report released in Washington yesterday, according to PRIME-TASS.
Azerbaijan with an 18.6% growth for 2008 and a15.5% growth for 2009 tops CIS, and it is followed by Armenia with a 10% and an 8% growth respectively. Georgia with a 9% GDP growth both for 2008 and 2009 is also among the top three.
In Kyrgyzstan, GDP is expected to rise 7 percent in 2008 and 6.5 percent in 2009, and Uzbekistan’s GDP growth will rise 8 percent in 2008 and 7.5 percent in 2009.
In the meantime, the IMF says in its latest World Economic Outlook (WEO) that global growth will decelerate in 2008, led by a sharp slowdown in the United States, amid a housing correction and a financial crisis that has quickly spread from the U.S. subprime sector to core parts of the financial system. Citing the unfolding financial market turmoil as the biggest downside risk to the global economy, the April 2008 report said the IMF expects world growth to slow to 3.7 percent in 2008—0.5 percentage point lower than what was forecast in the January 2008 World Economic Outlook. Further, world growth would achieve little pickup in 2009, and there is a 25 percent chance that the global economy will record 3 percent or less growth in 2008 and 2009, equivalent to a global recession.
