Real growth of Uzbekistan’s economy reached 5.4% in H1

The real growth of Uzbekistan’s economy amounted to 5.4% in H1 2022. This is relatively low compared to the corresponding period of the last year (7.2%), but higher than the April estimates of 3.5-4.5%.

Фото: AP

According to the Central Bank, higher growth rates were observed in agriculture, food production and retail trade.

“The continuation of this trend in the coming months will have a positive impact on prices,” the regulator said in a statement.

It is noted that in the first half of the year, the average accrued nominal wage due to the increase in monthly wages and pensions increased significantly compared to the corresponding period last year, which became one of the main factors supporting domestic demand in the economy.

During this period, the volume of loans allocated to the economy by banks increased by 10%.