Uzbekistan's economy continues to demonstrate significant results, according to the mission of the International Monetary Fund (IMF) visiting the country. IMF representatives highlighted that the current period is favorable for advancing reform programs and policies as well as building reserves to enhance resilience against shocks.
According to the IMF report, Uzbekistan's real Gross Domestic Product (GDP) grew by 7.6% year-on-year in the period from January to September 2025. The growth was positively influenced by increased investment volumes in the national economy and rising consumer demand.
The IMF expects Uzbekistan's economy to grow by 6% in the near future, supported by investments and stable consumption. Additionally, inflation in the country is forecasted to decline to 5% by the end of 2027.
This target is planned to be achieved by the Central Bank. By the end of October 2023, overall and core inflation slowed to 7.8% and 6.6%, respectively.
The IMF noted that this was due to the fading impact of last year’s energy price increases. At the same time, it was observed that lending to individuals grew by 23% year-on-year in September 2023, while corporate lending showed moderate growth.
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