The economic growth rate of Central Asia is expected to decline to 4.5% next year. This is highlighted in a report by the Mastercard Economics Institute (MEI).
Despite the slowdown in GDP growth, investments in infrastructure will remain the main driver of economic growth. Increased investments from China and Gulf countries indicate that Central Asia is becoming an important strategic region.
At the same time, the impact of U.S. trade tariffs on Central Asian countries is expected to be limited. However, the slowdown in global trade and issues related to investments could negatively affect the region's economies.
MEI experts note that rising prices and a decrease in remittances to the region could lead to a decline in consumer spending among the population. The global economic growth rate is expected to slow to 3.1% next year.
Moderate growth may be observed in the United States, but there is a likelihood of a slowdown in China and Latin America.
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