EDB: Uzbekistan to Lead Central Asian Economic Growth Through 2028
Uzbekistan is set to remain one of the strongest economic performers in Central Asia between 2026 and 2028. The projection was outlined in the latest macroeconomic review published by the Eurasian Development Bank (EDB).
According to the bank’s analysts, the gross domestic product of the republic is expected to expand by 7.9% this year. This growth rate is forecast to adjust to 6.7% across 2027 and 2028.
The report also indicates a downward trend for inflation in the country. Experts predict that the inflation rate will stand at 6.8% for the current year before decreasing to 5.5% in the subsequent two-year period.
The EDB provided estimates regarding Uzbekistan’s monetary policy and currency valuations. Analysts expect the central bank’s average key interest rate to fall to 13.7% by the end of 2026. This figure is projected to decrease further to 11.8% during the 2027 to 2028 window.
In terms of currency, the average USD exchange rate is forecast to reach 12,200 soums this year. The rate is then expected to climb to an average of 13,500 soums over the following two years.
Alexey Kuznetsov, the head of the EDB’s analytical directorate, highlighted the broader economic resilience of the area. He stated that Central Asia continues to be one of the fastest-growing regions globally despite the ongoing conflict in the Persian Gulf.
Kuznetsov noted that the regional economy is anticipated to grow by more than 6.5% in 2026, bringing the combined GDP to over $600 bn. He concluded that the region is rapidly expanding in scale, raising its international profile and becoming an increasingly attractive destination for investment.
