Uzbekistan’s GDP projected to grow by 4.5-5.5 percent in 2021

The fiscal stimulus and the effects of the relative easing of monetary conditions in 2020 will help sustain economic activity in the first half of 2021 on the demand side, the Central Bank reports.

Real GDP growth in 2021 is projected to be between 4.5 and 5.5 percent.

“The main drivers of the economy in 2021 and the following years will be structural changes and economic reforms in the real sector of the economy aimed at developing competition, improving the investment climate and infrastructure,” the Central Bank noted.

It is estimated that credit flows to the economy in 2021 will be proportional to nominal GDP growth of between 16 and 20 percent.

Given the stability of regulated prices and the balance of inflation factors, inflation is expected to decline further to 9-10 percent by the end of 2021.