Uzbekistan’s GDP grew by 6.6% over the first nine months of 2024, while industrial output rose by 7%. These results were presented to President Shavkat Mirziyoyev during an economic meeting.
At the beginning of October, the country’s gold and foreign exchange reserves exceeded $40 billion for the first time, and deposits in the national currency increased by 50%.
The share of investment in GDP this year is expected to surpass 33%, with exports projected to rise by 19%.
The meeting underscored that stronger foreign investor confidence enabled the issuance of $4 billion in eurobonds on the global market. International financial institutions also affirmed Uzbekistan’s ongoing and stable economic growth.
The focus will be on enhancing tax administration to increase budget revenues without raising tax rates.
Maintaining GDP growth in 2025 will require the launch of planned projects and the continued development of logistics, IT, agriculture, and financial services.
The government plans to boost funding for education and healthcare by 20%.
Earlier, Kursiv Uzbekistan reported that the World Bank projected a 6% economic growth for Uzbekistan in 2024.
