OREANDA-NEWS. The European Bank for Reconstruction and Development (EBRD) improved its forecast on economic growth of Uzbekistan for 2015, the report "Regional Economic Prospects in EBRD Countries of Operations" said.

According to the report, the gross domestic product (GDP) of Uzbekistan will grow by 7.8% in 2015. In September 2014, the bank forecasted that economy of Uzbekistan will increase by 7.6% in 2015.

The EBRD underlined that economic growth of Uzbekistan made up 8% in 2014. In September 2014, the experts of the bank forecasted that Uzbekistan's GDP will grow by 7.5%.

The EBRD said that inflation rate in Uzbekistan made up 11% in 2014. According to the EBRD, the inflation rate will remain at this level in 2015 as well.

The bank said that situation in Russia will impact economic development of Uzbekistan as the volume of remittances, sent from Russia to Uzbekistan, will slow down. The trade between two nations will fell as well, the EBRD added.