OREANDA-NEWS. July 21, 2011. It is read in its macro-monitoring. The projected GDP growth is one of the lowest expected GDP growth rates in the CIS. The lowest GDP growth is expected in Azerbaijan – 3.9 percent. In Armenia, the GDP is forecasted to grow 4.3 percent. According to the Euroasian Development Bank’s forecast, the average growth of the GDP in the CIS countries this year may amount to 4.5%, in 2012 – 4.53%. Economies of the Central Asia are expected to be the growth leaders – Turkmenistan (9.3%), Uzbekistan (7.8%), Tajikistan (6.1%), Kazakhstan (5.9%) and Kyrgyzia (5.7%).

Economies of Russia and Ukraine will grow 4.5%. “A considerable uncertainty about the further economic growth remains due to the crisis in Belarus”, reads the bank’s study. Experts say the following factors influence development of the region’s economy: slowdown of the global economy, especially of China, meaning reduction in demand for raw materials – the main exported goods of CIS economies; recovery of the region’s economies so far hasn’t led to disappearance of the state budget deficit and accumulation of debt; growth of global food prices and the excessive monetary liquidity makes inflation the main problem in the region.

The Eurasian Development Bank (EDB) is an international financial institution founded in 2006 by Russia and Kazakhstan. Its members are Russia, Kazakhstan, Armenia, Tajikistan and Belarus. The EDB’s mission is to foster economic growth and integration processes in the Eurasian region.

The Bank’s charter capital exceeds USD 1.5 billion. As it was reported earlier, Moldova’s GDP in January-March 2011 totaled 16.78 billion leis (USD 1.5 billion), up 8.4% against the same period last year.