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The Central Bank of Uzbekistan kept its key interest rate unchanged at 13.5% per annum, according to a press release from the regulator.

“The decision aims to return core inflation and inflation expectations to a sustainable downward trajectory while creating sufficient conditions to achieve the 5% inflation target in the medium term,” the statement read.

The Central Bank noted that by the end of last year, the price growth for three-quarters of goods and services had slowed compared to 2023. However, core inflation in December slightly increased, rising to 7.2%.

The regulator forecasts that overall inflation will reach...

Uzbekistan plans to boost textile and garment exports to $7 bn by 2027, as outlined in a decree by President Shavkat Mirziyoyev.

By the end of 2025, textile exports should reach at least $4 bn, with a further $1 bn increase expected in the following year.

The volume of finished textile and garment exports to Europe and the United States is set to reach $500 mn by 2027.

Finished products should account for at least 70% of total textile and garment exports. To achieve this, enterprises in the country need to attract $5 bn in foreign investment and loans...

As of January 1, 2025, Uzbekistan had 201,000 VAT payers, marking a 5.7% annual increase, according to the State Tax Committee.

One-third of all VAT payers operate in trade, while just under a quarter are engaged in agriculture.

The information and communication technology sector, along with transport, showed the highest growth in VAT payers, increasing by 15.2% and 13.4%, respectively.

Tashkent leads in the number of VAT payers, with 47,800 registered enterprises. Over the year, their number in the capital rose by 9.8%. Tashkent region ranked second with a 9.7% increase, followed by Navoi region with 7.6% growth.

The...

Telegram is standardising its cryptocurrency policy and has partnered exclusively with the TON Foundation, according to Pavel Durov, the head of Telegram.

«We have agreed with TON Foundation to make TON the exclusive blockchain partner of Telegram. TON will serve as our blockchain infrastructure,» Durov wrote on his Telegram channel.

He added that this standardisation «will benefit Telegram users» by helping the platform combat fraud.

As a result, Toncoin will become the sole cryptocurrency for Telegram services.

Capital investments in Uzbekistan reached 493.7 trln soum in 2024, according to the Statistics Agency. This represents a 38% increase compared to 2023.

Over the past five years, the volume of investments has grown nearly 2.5 times, based on the agency’s calculations.

China invested over $10 bn in Uzbekistan’s economy in 2024. More than 3,300 enterprises with Chinese capital now operate in the country.

In 2024, Uzbekistan’s enterprises produced food products worth 103.7 trln soum, marking a 57.8% annual increase, according to the Statistics Agency’s report.

The country exported food and live animals worth $2.1 bn last year, a 22.4% rise compared to 2023.

This year, plans include producing 1 mn tonnes of poultry meat and 10.5 bn eggs, with exports expected to reach $180 mn. Additionally, over 1,300 livestock enterprises are set to be launched.

Other initiatives involve creating pastures to be leased through online auctions.

A further $50 mn is allocated to launching poultry industry initiatives and modernising operations...

OpenAI, SoftBank, and Oracle have launched a joint venture named Stargate to invest in the development of artificial intelligence (AI). The initiative was announced by the new US President, Donald Trump, according to Bloomberg.

OpenAI’s website states that Stargate plans to invest $500 bn over the next four years to build AI infrastructure in the United States. OpenAI has committed to immediately allocating $100 bn for this initiative.

“This infrastructure will secure America’s leadership in AI, create hundreds of thousands of jobs, and deliver significant economic benefits globally,” the statement read.

In addition to SoftBank and Oracle, OpenAI listed...

Preparations for the upcoming EU-Central Asia Summit were discussed by Saida Mirziyoyeva, Advisor to the President of Uzbekistan, and Toivo Klaar, the European Union Ambassador to Uzbekistan. Mirziyoyeva shared details of the meeting on her Telegram channel.

“Mr Klaar reaffirmed his commitment to supporting our reforms,” wrote the presidential advisor.

Mirziyoyeva also noted that the summit is scheduled for April and will take place in Samarkand.

At the beginning of 2025, the most popular destinations for Uzbek tourists included Russia, the UAE, Turkey and Saudi Arabia, according to a report from the press service of Aviasales.

Air ticket prices exhibited varied trends. Flights to Russia decreased in price by 13%, coinciding with an increase in available flights. Conversely, ticket prices to the UAE rose by an average of 6% due to heightened demand during the winter season.

As the tourist season in Turkey ended and the number of flights increased, travel to Turkey became more affordable for Uzbeks. Early 2025 saw an average cost reduction of...

The Japan International Cooperation Agency (JICA) will provide Uzbekistan with a $150 mln loan for the construction of the Republican Specialised Scientific and Practical Medical Center of Neurology and Stroke, as reports by the Dunyo news agency.

This agreement was reached during a meeting between Laziz Kudratov, the Uzbek Minister of Investment, Industry and Trade, and Akihiko Tanaka, the head of JICA. In addition to the construction loan, the funds will also be used to purchase equipment for the medical center.

During the meeting, both parties highlighted that projects totaling $3.7 bn have been implemented in Uzbekistan with JICA’s...

Afghanistan has decided not to abandon the construction of dams to appease neighboring countries, as reported by Sputnik Afghanistan, citing Abdul-Latif Mansour, the acting head of the Water Ministry of the Islamic Emirate.

Mansour indicated that previous Afghan governments refrained from building large irrigation projects to benefit their neighbours. The civil war and ongoing economic challenges hindered the effective utilisation of water resources.

Now, the Taliban government aims to execute an independent water policy, even if this approach causes discontent among leaders of neighbouring nations. In November 2023, Ministerial Advisor Farooq Azam suggested using Afghanistan’s water resources as...

In 2024, the volume of Uzbekistan’s foreign trade reached $65.9 bn, reflecting an annual growth of 3.8%. The country’s largest trading partners are China, Russia and Kazakhstan, according to the State Agency of Uzbekistan.

Last year, the trade turnover with China totalled $12.4 bn, with Russia at $11.6 bn and Kazakhstan at $4.2 bn.

In 2024, Uzbekistan imported goods worth $10.4 bn from China, $7.9 billion from Russia, and $2.8 bn from Kazakhstan. On the other hand, Uzbekistan exported goods valued at $2 bn to China, $3.6 bn to Russia, and $1.4 bn to Kazakhstan.

The primary exports from...

Uzbekistan produced more than 44.5 bn cubic meters of gas by the end of 2024, which is 4.5% less than in 2023, according to the report of the Statistic Agency.

Against the backdrop of declining gas production, Uzbekistan has ramped up gas imports. Last year, purchases of foreign fuel exceeded $1.6 bn, twice as much as a year earlier. At the same time, the republic increased gas exports by 18.4%, up to $627.7 mln.

According to the agency, gas production in the republic has been falling since 2022.

At the end of 2024, Uzbekneftegaz announced plans to stabilise gas production...

According to the Central Bank of the Republic of Uzbekistan, the volume of cross-border money transfers to Uzbekistan reached $14.8 bn in 2024, marking a 30% annual growth.

The majority of the transfers came from Russia, totalling $11.5 bn, which represents a 29% increase compared to 2023.

Other significant sources of remittances included Kazakhstan, with $795 million; the United States, with $577 mn; and South Korea, with $534 mn.

The most common method for sending money to Uzbekistan was through money transfer systems, which accounted for $8.2 bn. Peer-to-peer transfers (P2P) amounted to $5.9 bn, while SWIFT transfers totalled...

Israel has released the first group of Palestinian prisoners, comprising 90 individuals, The Times of Israel reports.

Some of those released returned to the Palestinian cities of Ramallah and East Jerusalem. Before their transfer, Israeli security forces conducted thorough inspections.

Of the 90 released, 69 are women, including one minor. Additionally, eight young men were freed, while the remainder are adult men convicted of «relatively minor offences.»

Under the first phase of the ceasefire agreement with the Palestinian group Hamas, approximately 2,000 prisoners are expected to be released.

Meanwhile, Hamas has so far released three Israeli hostages.

In 2024, Uzbekistan welcomed 10.2 mn foreign visitors, marking a 1.5-fold increase compared to 2023, according to the State Committee for Tourism of Uzbekistan, as reported by Kursiv Uzbekistan.

The number of tourists from China increased by 1.8 times, from Italy by 1.5 times, and from India by 1.6 times over the past year.

Tourist inflows from Germany rose by 1.2 times, from Turkey by 1.4 times, and from South Korea by 14%.

It is worth noting that BBC Travel included Uzbekistan among the 25 best travel destinations for 2025, alongside the United States, Italy, and Japan.

Chinese investors contributed over $10 bn to Uzbekistan’s economy in 2024, according to the Ministry of Investments, Industry, and Trade (MIIT).

This figure was announced at the Uzbekistan-China Business Forum held in Tashkent, which brought together more than 400 entrepreneurs from both countries.

During the forum, it was highlighted that as of January 2025, over 3,300 enterprises with Chinese capital were operating in Uzbekistan. Collaborative projects with Chinese investors are being implemented across various regions of Uzbekistan, focusing on energy, light industry, and other sectors.

The total trade turnover between Uzbekistan and China reached $13.1 bn, the ministry added.

BBC Travel has included Uzbekistan in its list of the 25 best travel destinations for 2025, the State Committee for Tourism of Uzbekistan reports.

Other destinations on the list include Italy, Japan, Morocco, the United States, Australia, and Canada.

BBC Travel highlighted that tourism has become a key part of Uzbekistan’s development strategy. Citizens of more than 90 countries can visit Uzbekistan visa-free. By December 1, 2024, the country had welcomed 7.3 mn tourists, with the majority coming from Kyrgyzstan, Tajikistan, and Kazakhstan.

President-elect of the United States, Donald Trump, plans to hold a phone conversation with Russian President Vladimir Putin following his inauguration, CNN reports.

According to the publication’s sources, Trump intends to discuss the possibility of a face-to-face meeting with Putin as well as the situation in Ukraine.

“Once Trump assumes office, US and Russian officials can begin serious preparations for arranging a personal meeting,” CNN stated.

The report also highlighted that during his election campaign, Trump pledged to end the Russian-Ukrainian armed conflict.

It is worth noting that the previous US President, Joe Biden, provided Ukraine with $175 bn...

Uzbekistan has concluded negotiations on its accession to the World Trade Organisation (WTO) with another country, according to Azizbek Urunov, the President’s Special Representative for WTO Affairs.

“Another country has finalised bilateral negotiations regarding our WTO accession. The discussions were emotional, but we succeeded. This is the true beauty of the process,” Urunov wrote on his LinkedIn page.

He further noted that Uzbekistan has now conducted negotiations with 23 countries.

From January to November 2024, Kyrgyzstan imported 16.3 mn litres of sweet non-alcoholic beverages from Uzbekistan, Tazabek reported, citing data from Kyrgyzstan’s National Statistics Committee.

Compared to the same period in 2023, imports rose 1.9 times. The value of these exports doubled, reaching $6.5 mn.

Kazakhstan remained the largest supplier of sweet beverages to Kyrgyzstan, though its exports decreased by 19% y/y to 109.4 mn litres. Russia secured the second spot, increasing its exports by nearly 15% to 29 mn litres over the same period.

Uzbekistan retained third place, doubling its share of Kyrgyzstan’s beverage imports to 10% of...

As of early December 2024, Uzbekistan’s metallurgy industry recorded production volumes of UZS 154.5 trln, a 36% increase compared to the same period in 2023, according to the State Statistics Committee of Uzbekistan.

Since 2020, the metallurgy sector in the country has more than doubled in size.

It is worth noting that Almalyk Mining and Metallurgical Combine (AMMC) produced goods worth UZS 38 trln last year. At the same time, Navoi Mining and Metallurgical Combine (NMMC) recorded production volumes of UZS 93.9 trln.

Kazakhstan has restricted potato exports outside the Eurasian Economic Union (EAEU) for six months, Tengrinews reports.

The price of potatoes at the production level surged from 160 to 270 tenge per kilogram (UZS 3,900 to UZS 6,600). Retail prices have risen even more sharply, with potatoes in Astana supermarkets now selling for 455 tenge (UZS 11,100) per kilogram.

Kazakhstan’s government attributed the sharp price increase to rising exports and higher export prices. In 2024, the country’s agricultural producers exported 605,000 tonnes of potatoes, compared to 411,000 tonnes the previous year.

Uzbekistan was the largest buyer of Kazakh potatoes...

In late December 2024, US President-elect Donald Trump announced his intention to bring Greenland, which is currently a part of Denmark, under US control. By January, Trump went further, suggesting that he might consider using force to take the island. Bakhtiyor Ergashev, Director of the Ma’no Research Initiatives Centre, explains the reasons behind the US interest in Greenland.

Is Trump serious about this plan?

Alongside Greenland, Trump’s ambitions extend to both Canada and the Panama Canal as potential areas of US interest.

When analysing Trump’s statements, it’s crucial to consider the changes in the global political landscape. The checks...