IMF raises Uzbekistan’s 2026 economic growth forecast to 7.8%

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The International Monetary Fund (IMF) has raised its forecast for Uzbekistan’s economic growth in 2026 to 7.8%, up from 6.8% in its June estimate. The fund expects the country’s gross domestic product (GDP) to expand by 6.5% in 2027.

Photo: REUTERS/Benoit Tessier

IMF raises Uzbekistan’s 2026 economic growth forecast to 7.8% — Photo: REUTERS/Benoit Tessier

The revised projections were published in the IMF’s latest World Economic Outlook report.

The IMF expects inflation in Uzbekistan to reach 6.9% in 2026 before easing to 5.7% in 2027. The current account deficit is projected at 5.1% of GDP this year and 4.6% next year.

The fund also forecasts that unemployment will stand at 4.3% in 2026 and decline to 3.8% in 2027.

The report notes that countries across the Caucasus and Central Asia continue to benefit from commodity prices, remittances and the pace of economic reforms. The IMF projects the region’s economy to grow by 5.2% in 2026 and 5% in 2027.

Uzbekistan’s state budget parameters for 2026, signed into law by President Shavkat Mirziyoyev in December 2025, were based on an economic growth forecast of 6.6%.