Banks & Finance

Uzbekistan Aims $200 Bn GDP by 2030

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Alexander Ten
Alexander Ten
Reporter
Nigora Umarova
Nigora Umarova
International Department Journalist
Economy GDP Uzbekistan
GDP is expected to grow by 7% this year
Uzbekistan gdp
Photo: Pixabay

Uzbekistan plans to expand its GDP to $200 bn by 2030, according to the budget message from the Ministry of Economy and Finance. Stronger economic growth is expected to push annual income per person to $5,000.

Officials say reaching this level will help cut poverty and improve living standards across the country. The ministry has also upgraded its economic outlook through to 2028 despite global risks. GDP is expected to grow by 7% this year, remain at 7% in both 2026 and 2027, and reach 6.9% in 2028.

The ministry also outlined changes to budget planning. From next year the deficit will be calculated within the overall fiscal balance, which includes deposits and programme loans. The aim is to ensure the deficit does not exceed 3% of GDP.

Next year consolidated budget revenues are forecast at 515.4 trln soums ($43.2 bn) and spending at 567 trln soums ($47.5 bn). Public debt is expected to stay at around 35% of GDP, which the ministry considers a safe level.

Kursiv also reports that Uzbekistan is close to completing its negotiations with Russia over joining the World Trade Organization.

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