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possible to repatriate profits in hard currency.
Overall, the reform drive pursued by the president – which has also included the release of dissidents and human rights activists – is starting to clock up a good number of successes. For instance, the World Bank has entered discussions with Tashkent on possible backing
it may be able to give to opening up
the country economically – possibly including a $1bn loan according to some reports – while the European Bank for Reconstruction and Development (EBRD) has for the first time since 2007 approved financing for projects
in Uzbekistan.
Also, following what was the first official trip to Ankara by an Uzbek president since 1999, Mirziyoyev is hopeful that many Turkish businesses forced out of Uzbekistan by his predecessor will
make a return.
Uzbek GDP grew by 5.3% in the first nine months of 2017, down from the 7.8% reported for the same period of 2016, marking the first time Uzbek authorities have reported a growth figure below 7% within the last decade, having generally reported growth within the range of 7%-9%. The latest GDP data can be seen as
a positive step towards transparency of macroeconomic reporting by Uzbek authorities.
Find more Eurasia content at www.bne.eu/eurasia
Selected headlines from past month:
· US charges five for bribing officials to win Central Asia contracts for Rolls-Royce · Death toll from Iran-Iraq border quake approaches 400
· US lawmakers signalling Americans to stick with Iran nuclear deal, says EU
foreign policy chief
www.bne.eu