Uzbekistan to become economic leader of Central Asia by 2035 – report
05/06/2014 16:12
Uzbekistan to become economic leader of Central Asia by 2035 – report
05/06/2014 16:12
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan will become economic leader of Central Asia by 2035 through expansion of its economic power and overtake Kazakhstan, World Pipelines magazine reported quoting forecast of the Asian Development Bank (ADB).
The report said that economy of Uzbekistan is very perspective and soon can become regional economic leader, overtaking Kazakhstan.
The magazine said that according to the ADB forecast, Uzbekistan’s economy grew by four times in last 12 and reached US$51 billion. Uzbekistan’s economy will grow with faster pace and overcoming Kazakhstan, Uzbekistan will become leading economy in Central Asia by 2035, the report said.
Significant reserves of hydrocarbons – oil and gas – and expansion of partnership relations with China, which is largest Uzbek gas consumer, will boost economic power of Uzbekistan.
The report said that development of new gas reserves in Southern-Western region of Gazli and economic relations with China, Uzbekistan will increase its economic potential by 6.4% each year from US$28 billion in 2010 to over US$128 billion in 2035.
The ADB experts said quoting data of Department of information of energy of the US, Uzbekistan can increase gas production from 60 billion cubic meters in 2010 to 71 billion cubic meters in 2015 and 80 billion cubic meters in 2035.
Uzbekistan has about 600 million barrels of oil and it probably will stop oil exports after 2035 and focus on meeting internal demand.
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