Uzbekistan's Economy Reaches Historic $100 Billion Milestone
Uzbekistan
Today, November 20, President Shavkat Mirziyoyev attended the session of the Legislative Chamber of the Oliy Majlis. For the first time, in line with the updated Constitution, the lower house is reviewing the Prime Ministerial nominee and the Government’s five-year action plan.
Before addressing the main agenda, the President reflected on the achievements of the past five years, highlighting the successful implementation of strategic programs. Uzbekistan's economy doubled in size during this period, surpassing the historic $100 billion mark for the first time. Per capita income is projected to rise from $1,600 in 2018 to $3,000.
According to the World Bank, Uzbekistan ranked among the top three fastest-growing economies in Europe and Central Asia in 2024. The poverty rate decreased from 23% to 11% over the past four years, with further reduction to 9% expected this year.
Exports nearly doubled, exceeding $25 billion for the first time, while the nation’s gold and foreign exchange reserves surpassed $40 billion. Foreign investments grew sixfold, creating 1.5 million new high-income jobs.
President Mirziyoyev emphasized the significance of maintaining this momentum and urged parliamentarians to thoroughly review the proposed five-year action plan to ensure sustained progress.
According to the World Bank, Uzbekistan ranked among the top three fastest-growing economies in Europe and Central Asia in 2024. The poverty rate decreased from 23% to 11% over the past four years, with further reduction to 9% expected this year.
Exports nearly doubled, exceeding $25 billion for the first time, while the nation’s gold and foreign exchange reserves surpassed $40 billion. Foreign investments grew sixfold, creating 1.5 million new high-income jobs.
President Mirziyoyev emphasized the significance of maintaining this momentum and urged parliamentarians to thoroughly review the proposed five-year action plan to ensure sustained progress.
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