Central Asian economies face slowdown as Russia falters – IMF

Central Asian economies: Economic growth in the countries of the  Caucasus and Central Asia (CCA)  look set to  weaken over 2014 and 2015 as they are dragged down by Russia’s poor performance, the IMF is predicting. The CCA, which encompasses eight ex-Soviet states as well as  Siberia, Iran and China, will see combined economic growth slow to about 5.5% in 2014-15, 0.75% lower than projected in the Fund’s outlook in May. Major contributing factors include the drop in oil prices, the delay in output from Kazakhstan’s giant Kashagan oilfield, and the pressure that a weak rouble is asserting on the Tajik and Kyrgyz currencies. The Moscow Times