Roberto Cardarelli: Azerbaijan, Kazakhstan, Turkmenistan stand to benefit amid geopolitical challenges

Oil-exporting countries in the Central Asian region, primarily Azerbaijan, Kazakhstan, and Turkmenistan, will experience a positive impact amid potential geopolitical and economic risks, Assistant Director of the IMF's Middle East and Central Asia Department Roberto Cardarelli said during the presentation of the International Monetary Fund's regional economic outlook for the Middle East and Central Asia held in Uzbekistan, Report informs.

According to him, despite the existing threats to the global economy and the likely increase in inflationary pressure due to higher energy costs, the situation in the commodity markets and medium-term expectations for the oil-exporting countries of the region create a positive vector for economic development.

"In turn, oil importers in the region, including, of course, Uzbekistan, will see growth approximately 0.5% lower than in the baseline forecast. Of course, inflation will be higher in each country due to higher energy costs," Cardarelli noted.