Uzbekistan’s economic growth projected at 5.6% by year-end

In January-September 2023, the economy of Uzbekistan grew by 5.8%. At the meeting with the participation of the president, it was said that GDP growth by the end of the year is expected to be at least 5.6%. Shavkat Mirziyoyev instructed responsible officials to carefully develop the economic program for 2024.

Photo: Presidential press service

At the meeting on October 19, the economic results achieved in the 9 months of this year, indicators expected until the end of 2023, and macroeconomic forecasts for 2024 were discussed.

It was noted that the country's economy grew by 5.8% over the past nine months of this year. In particular, industry showed a 5.7% increase, agriculture grew by 4.1%, and services by 12.1%.

Exports increased by 23.5% and amounted to $17.7 billion. Due to the implementation of large-scale industrial and infrastructure projects in economic sectors and regions, 226.6 trillion soums of investments were mastered, up by 11.8% compared to the corresponding period of last year.

By the end of the year, GDP growth is expected to be 5.6%. The president noted that the difficult situation in the world has a negative impact on the economy, therefore, it is necessary to use more domestic opportunities to continue sustainable economic growth.

Shavkat Mirziyoyev instructed the government to carefully develop the economic program for 2024.

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