World Bank forecasts Uzbekistan’s economic growth for 2023-2025

According to the updated assessment of the World Bank for Europe and Central Asia for 2023-2025, economic growth in this region in 2023 is expected to slow down compared to last year (4.7 percent) and average 2.4 percent.

In the IMF report on the Global Economic Outlook for 2023-2025, global economic growth expectations were reduced by 0.1 percentage points compared to the January forecasts. In particular, the IMF expects the world economy to grow by only 2.8 percent in 2023, and 3 percent in 2024.

According to World Bank experts, economic growth in Central Asia will average 4 percent in 2023, and in 2024-2025, it will increase to 4.3 percent as a result of structural reforms implemented in Uzbekistan, Kazakhstan, and Tajikistan.

The forecast of the Center for Economic Research and Reforms of Uzbekistan for the 1st quarter of 2023 showed high accuracy. During this period, the economic growth was 5.5 percent. That's slightly higher than the 5.47 percent expected by the center's experts earlier this year but falls within the center's 5.31 percent-5.62 percent forecast corridor.