Reduced export earnings due to lower prices for oil and gas holding back growth in Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan, said in the ADB new report ‘Asian Development Outlook 2015.’

The Asian Development Bank (ADB) is left at the same level forecast for GDP growth in Uzbekistan by 7% in 2015 and 7.2% in 2016. This year, the government plans to ensure GDP growth of 8%, to keep inflation within 5.5% – 6.5%.

The bank forecasts that the current account balance of payments will amount to 0.9% of GDP in 2015 (in the September forecast – 2.8%) and 1.1% in 2016.

According to the report, reduced export earnings due to lower prices for oil and gas holding back growth in Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan. Inflation in the region is projected at 8.1% in 2015 and 7.5% in 2016.