The Economy Of The Five Central Asian Countries Continues To Recover(2)

Approximately 77,000 new companies have begun to engage in commercial activities, and investment accounts for 32% of GDP.

The GDP growth rate of Tajikistan in the first three quarters was 8.9%, mainly due to the expansion of fixed asset investment and the rapid growth of industry, trade, agriculture, transportation, service and other industries. The economies of Kyrgyzstan and Turkmenistan also achieved different degrees of positive growth during the same period.

The economic growth in Central Asia has benefited from the powerful measures taken by governments to respond to the epidemic and boost the economy. Relevant countries continue to introduce economic stimulus plans such as optimizing the business environment, reducing and exempting corporate tax burdens, providing preferential loans, and attracting foreign investment.

The European Bank for Reconstruction and Development recently released the "Economic Development Prospects of Central Asia in 2021" that the average GDP growth rate of the five Central Asian countries this year is expected to reach 4.9%. However, some experts pointed out that taking into account uncertain factors such as the epidemic situation, commodity prices in the international market, and labor market supply and demand, the economies of Central Asian countries still face many challenges.