Structural reforms can bring significant GDP growth in Central Asia
Structural reforms could increase the economic growth rates of the countries of the Caucasus and Central Asia by 5-7 percent, said Kristalina Georgieva, Managing Director of the International Monetary Fund.
Structural reforms can bring significant GDP growth in Central Asia
The Economics of Geography

Structural reforms can bring significant GDP growth in Central Asia

Photo: AFP/XINHUA/LIU BIN
Eurasia 29/06/2023 11:00

Structural reforms could increase the economic growth rates of the countries of the Caucasus and Central Asia by 5-7 percent, said Kristalina Georgieva, Managing Director of the International Monetary Fund.

According to Georgieva, IMF studies show that in the medium term, structural reforms can increase the economic growth rate of the Central Asian region by 5-7 percent. Another positive sign in this context is that there is scope for further acceleration of stimulus reforms in the region, Avesta reported.
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Georgieva believes that the capital sent home by Central Asian and Caucasian workers emigrating to Russia has been successful in boosting the economic performance of some countries, while the surge in energy prices on international markets has also improved the prospects for oil exporters in the region, such as Kazakhstan.

At the same time, Central Asia is on the fault line of growing and sharpening global fragmentation, Georgieva warned. If the world economy breaks up into blocks, the region will be among the first to feel the effects of the changes, she added.

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