The GDP growth in 2024 reached 6.5%, reflecting a strong recovery and robust economic performance. This growth rate indicates a positive outlook for the country's economy. It reflects a high development pace, especially in construction, industry, and agriculture. The government actively supports the private sector and improves business conditions, which helps maintain prospects for continued economic growth.
Inflation in Uzbekistan has remained around 9-10% in recent years, which is higher than in developed countries but in line with other developing economies. The Central Bank of Uzbekistan follows an inflation targeting policy to manage inflation levels and ensure price predictability for businesses. Interest rates also vary, stimulating economic activity and ensuring access to credit for businesses.
Inflation Rate, %
Decreased by 1.4 times
Unemployment Rate, %
Decreased by 1.8 times
Job creation, especially among young people, remains one of the most important challenges. The government is taking steps to support small and medium-sized enterprises (SMEs), which should help reduce unemployment. The growth of sectors such as agriculture and tourism is also contributing to higher employment.
Job creation, especially among young people, remains one of the most important challenges. The government is taking steps to support small and medium-sized enterprises (SMEs), which should help reduce unemployment. The growth of sectors such as agriculture and tourism is also contributing to higher employment.
Foreign direct investment (FDI) is also rising, driven by improvements in the legal framework and new initiatives aimed at attracting foreign companies. Special attention is being given to strategically important sectors, such as renewable energy and mining, which are attracting major international companies.