• KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 1279

ADB Forecasts Faltering Economic Growth

The People's Republic of China (PRC) will remain the engine of growth for the world economy, even despite some slowdown. That forecast has been made by the Asian Development Bank (ADB) specialists in their report, Asian Development Outlook. Inflation is expected to decline in 2024 and 2025 after the increase in food prices in many countries over the past two years - and developing economies in the Asia-Pacific region will grow by an average of 4.9%, according to the ADB. Experts predict the highest economic growth for India: where the economy will grow by 7% this year and 7.2% next year. As for China, experts are more reserved in their forecasts: China's growth will slow to 4.8% this year and 4.5% next year. "Obviously, China will play an important role for some time to come. It still accounts for almost half of the GDP [gross domestic product] in the Asia-Pacific region," said ADB chief economist ,Albert Park. At the same time, economists also warned of possible risks: supply chain disruptions, uncertainty over U.S. monetary policy, the effects of extreme weather, and volatility in the PRC's real estate market. Inflation in developing Asia-Pacific economies is expected to fall to 3.2% this year and 3% next year as global price pressures ease and monetary policy remains tight in many countries. However, inflation in the region, with the exception of China, is still higher than before the COVID-19 pandemic. According to the bank's forecasts, economic growth in Uzbekistan will slow this year and grow slightly next year. This is because higher state-regulated prices will limit the growth of real household incomes, thus reducing demand. Economists expect a lower growth in services and agriculture. Lower remittances, fiscal space constraints, and lower global demand for Tajikistan's main exports will cause Tajikistan's economic growth to slow slightly in 2024 and 2025, the ADB said. "Tajikistan faces serious climate challenges and risks that could lead to irreversible economic, social, and environmental damage," said the ADB 's resident representative in Tajikistan, Shanny Campbell. The ADB says developing a green economy is key to the country's sustainable growth. As for its nearest neighbor, Kazakhstan, the ADB has lowered its GDP growth forecast for 2024 to 3.8%, down from 4.3% in the previous review. In 2025, the figure is expected to be 5.3%. Actual GDP growth at the end of 2023 was at 5.1%. "The growth rate of Kazakhstan's economy in 2024 will decrease against the background of slowdown in industrial growth due to stagnation in oil production and then recover in 2025 due to the growth of resource extraction at the Tengiz field and investments. Prospects for Kazakhstan's economic growth in the medium term look positive," ADB analysts said. As for developed economies globally, their growth will slow down this year: GDP growth in the U.S. will fall to 1.9% from last year's 2.5%, and in Japan, GDP will grow by 0.6% compared to 1.9% in 2023.

Tajik Institute Hosts Conference on Furthering Cooperation With Uzbekistan

An international conference called Uzbekistan and Tajikistan: New Perspectives of Strategic Partnership and Alliance is being held in Dushanbe on April 12, in cooperation with the International Institute of Central Asia and the Center for Strategic Studies under the President of the Republic of Tajikistan, according to a report by UzA. According to this report, current relations between Uzbekistan and Tajikistan have reached a stage of rapid development. Mutually beneficial cooperation in the political, trade-economic spheres, and cultural-humanitarian connections are expanding. The amount of cross-border bilateral trade has increased more than threefold since 2017, and in the coming years is expected to reach $1 billion annually. The main goal of the ongoing conference is to discuss the prospects for further development of the bilateral partnership, as well as to develop practical proposals for expanding cooperation in the fields of trade and industry, transport, ecology and water use, agriculture, and education. Participants include representatives from the two country’s top research and analytical centers, and from ministries and agencies. Additionally, as part of the Uzbek delegation’s visit to Dushanbe, bilateral meetings are scheduled at the Ministry of Foreign Affairs, the Institute of Economics and Demography of the Institute for the Study of the Problems of Asian and European Countries of the National Academy of Sciences of Tajikistan, and the Center for Strategic Studies under the President of the Republic of Tajikistan.

As Bishimbayev Case Continues, Kazakhstan Toughens Domestic Violence Laws

While a court in Astana tries former economy minister Kuandyk Bishimbayev for murdering his wife Saltanat Nukenova, the Kazakhstani Senate has passed a law strengthening protections for women and children against domestic violence. The new law, if properly implemented, can hand out much harsher punishments to those who abuse those closest to them. In particular, a term of life imprisonment has been introduced for the murder of a minor child.   In the Face of Widespread Indifference The trial of Bishimbayev – and his relative Bakhytzhan Baizhanov, who is accused of failing to report the murder - has uncovered an uncomfortable truth. Many people already knew that Bishimbayev beat his wife, who died last November. Relatives and close acquaintances of the victim recounted details in court about bruises on Nukenova's face. On the day of her death, a number of witnesses saw Bishimbayev arguing with, and possibly beating, Nukenova. Many of these witnesses are employees of the restaurant where the alleged murder took place. Baizhanov admitted under interrogation that he saw blood as Nukenova was laying motionless, but, on the orders of Bishimbayev, had the restaurant's surveillance tapes deleted, and then drove Nukenova's phone around the city, so that it would seem later that she was still alive at the time. According to Baizhanov, he "did not know and did not realize" that Nukenova was dying. However, a forensics expert testified in court that the nature of Nukenova's injuries indicated serious beatings, not "light slaps and falls," as Bishimbayev had previously claimed. Examinations confirmed that Nukenova died of multiple brain injuries and a lack of oxygen, likely as a result of asphyxiation.   Will the New Law Help Stop Violence?  Kazakhstanis are closely following the legal proceedings that have resulted from Nukenova's death, and are organizing viral online actions and rallies in her memory in cities across Europe. Human rights activists and ordinary Kazakhstanis fought long and hard for domestic violence to be criminalized. Under the new law, criminal liability will be applied to any intentional infliction of harm to health, however minor. The Code "On marriage (matrimony) and family" establishes the legal status of family support centers and the functions they perform, and establishes helplines for information and psychological assistance relating to women's and children's rights. The law also contains many measures aimed at protecting children in public and online. Activists are still cautious about the new law, and argue that much will depend on its practical application and the amount of funds allocated to it. Support centers for victims of violence receive many calls per day, and physically cannot provide assistance to all those in need.   Central Asia's Changing Attitudes to Domestic Violence The other countries in Central Asia face a similar, and perhaps more difficult, situation. Uzbekistan, for example, adopted a law last year to give women and children more protection against domestic violence. Domestic violence in Uzbekistan is subject to administrative and criminal liability, and harassment has been made a crime. The sentences for sexual...

Economist Marat Kairlenov: Kazakhstan Must Keep Up With Uzbekistan

In 2023, crude oil remained Kazakhstan's main export commodity, accounting for $42.3 billion, or 53.8%, of the republic's total gross domestic product (GDP). According to a proprietary forecast, Uzbekistan may overtake its neighbor in terms of GDP by 2037. This is due to the continuing technological lag in the raw materials-based economy of Kazakhstan, according to economist Marat Kairlenov, who recently discussed ways to diversify Kazakhstan's economy and create jobs. "We remain predominantly a raw material country; however, in the GDP structure, agriculture accounts for only 4%, industry -- 36%, and services -- 56%," Kairlenov told kapital.kz. He emphasized that changing the economic orientation requires time, and active use of raw materials sector opportunities, as other countries have done during reforms. The key issue is the equal distribution of national wealth. It's important to revise agreements with large subsoil producers to increase the wages of citizens. "In 2023, Kazakhstan's GDP reached 119 trillion tenge ($266.2 billion) with only 31% going to wages. This shows the need for policy correction," Kairlenov added. Speaking about economic diversification, the economist mentioned new technologies in mining rare metals, such as high-grade nickel. "Our country is rich in various minerals and we should actively develop their extraction," he believes. However, oil dependence remains an issue. "The price of oil is crucial, and the war in Ukraine incentivizes countries to give up oil". He assumes that at an average oil price of $30 per barrel, production will become unprofitable. In this regard, Kairlenov calls for the active development of other sectors of the economy, such as the extraction of rare metals and the information technology (IT) sector. "We need to get rid of misconceptions, for example, about the contribution of [cryptocurrency] mining farms to the economy," he stressed. Kairlenov draws attention to fading investment activity -- and the growing number of seized accounts, which indicates negative trends in the economy. "Policies must change to incentivize job creation and improve the welfare of citizens," he concludes. How can Kazakhstan create new jobs and stimulate economic growth? Kairlenov suggests a number of concrete steps to create jobs in the country. "Very simple -- we need to reduce customs duties on imported cars and machinery to the level of 2010. The same applies to scrappage duty." Reducing the cost of cars stimulates tourism and the development of agriculture, which needs modern equipment. In addition, Kairlenov notes the need for infrastructure renewal. "Costs are inevitable for new power lines, pipes and other engineering systems. The whole country needs renewal, which will create demand for machinery and many jobs," he explains. It's also important to create a favorable environment for business development. "Liberalizing the economy is the key to progress. Less regulation is required from the state and more freedom for entrepreneurs." he added. Kairlenov also calls for attracting foreign investment in promising industries. "Why don't we launch the production of [railroad] carriages or other goods in which we have advantages?" Asked about Uzbekistan's future as a regional economic leader, Kairlenov...

Uzbekistan Widens its Doors to Foreign Tourists

In an announcement on the media portal Novosti Uzbekistana, Nurbek Yakubov, a senior expert at the Institute of Macroeconomic and Regional Studies of Uzbekistan, revealed plans to boost the country’s tourist industry. Boasting a unique and exotic cultural heritage, as well as stunning natural landscapes rich in archaeological sites and monuments, Uzbekistan’s inflow of foreign tourists has increased almost 2.5-fold, to 6.6 million over the past six years. As a result, tourism has become one of the key sources of stable economic growth in the country. In 2017, revenue from related services amounted to $531 million, and in 2023, quadrupled to $2.143 billion. The industry now aims to further increase its volume of foreign tourists to 15 million, in addition to increasing that of local tourists to 25 million, and pilgrims to 3 million by 2030. According to Yakubov, Uzbekistan is on course to double the availability of hotel beds, increase the number of tourist mahallas (local communities equipped to receive tourists) to 175, and has set a goal to increase the annual export of tourism services to $5 billion through attracting private investment. Citizens from 91 countries can currently visit Uzbekistan without a visa.

Uzbekistan Strengthens Measures Against Extremism

As part of new urgent measures in Tashkent, authorities searched 45 houses, according to a report by the Main Department of Internal Affairs (MDIA) of the city. The searches were carried out at the houses of citizens who had previously joined extremist radical groups, and suspects were arrested. Over the past three months, 50 criminal cases have been initiated involving religious extremism and terrorism, while administrative reports were drawn up in connection with 188 violations. Legal measures were taken against a total of 264 individuals. In the MDIA report, citizens were asked to refrain from joining various radical groups and not to promote foreign ideas through social networks. Earlier, in order to better ensure the safety of citizens in the capital, the MDIA announced that employees were conducting operations in an enhanced manner in shopping complexes, entertainment venues, markets, and other public places.

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