Uzbekistan targets $300 billion GDP by 2030

20:062532 min

Uzbekistan plans to increase the size of its economy to $300 billion by 2030, President Shavkat Mirziyoyev said at a ceremony marking the 35th anniversary of the country’s independence.

Photo: Presidential Press Service

Uzbekistan targets $300 billion GDP by 2030

Photo: Presidential Press Service

The new target comes after Uzbekistan surpassed expectations for economic growth. Three years ago, the country set a goal of reaching $160 billion in gross domestic product by 2030. Mirziyoyev said that target is now expected to be surpassed as early as this year, despite disruptions to global logistics and continued geopolitical uncertainty.

“Three years ago, we planned to bring GDP to $160 billion by 2030. Despite disruptions in global logistics and instability around the world, we will exceed this target already this year and join the ranks of upper-middle-income countries,” the president said.

Uzbekistan’s GDP is expected to reach $180 billion by the end of 2026, according to figures cited by Mirziyoyev.

The president said the next challenge would be to sustain high rates of economic growth and raise GDP to $300 billion within the next four years.

Mirziyoyev also highlighted progress in reducing poverty. He said the poverty rate had fallen from 35% in 2017 to 4%, attributing the decline to economic reforms and sustained efforts to improve living standards.