Uzbekistan – A Leader in Economic Growth in ECA

According to a new report by the World Bank (WB), Uzbekistan’s economy is showing steady growth despite a general slowdown in economic activity in the Europe and Central Asia (ECA) region. The WB estimates that Uzbekistan’s gross domestic product (GDP) grew by 6% by the end of 2024. Forecasts for the coming years remain positive: growth is expected at 5.8% in 2025 and 5.9% in 2026. These figures significantly exceed the average regional indicators in the ECA.

The World Bank predicts a slowdown in economic growth in the ECA region to 2.5% in the current year 2025, followed by a slight increase to 2.7% in 2026. Analysts from the organization note that the economic slowdown in the Russian Federation may negatively affect Central Asian and South Caucasus countries, primarily through reduced remittance volumes.

Nevertheless, Uzbekistan maintains a positive growth trajectory. At a meeting chaired by President Shavkat Mirziyoyev, it was announced that Uzbekistan’s GDP grew by 6.5% in 2024, reaching $115 billion USD. This result confirms the effectiveness of the ongoing economic reforms and provides a favorable foundation for further progress. The high growth rate of Uzbekistan’s GDP against the backdrop of a general regional slowdown demonstrates the country’s ability to withstand external challenges.

The World Bank’s forecasts support optimistic expectations for Uzbekistan’s economic development in the medium term. It is anticipated that the country will sustain its high growth rates, contributing to further improvement in the well-being of its citizens.