CERR: Uzbekistan’s Business Climate Improved by 2 Points Over the Month
Economy
The Center for Economic Research and Reforms (CERR) has presented the results of its analysis of Uzbekistan’s business climate for February 2025. According to the study, the composite business climate indicator reached 54 points, increasing by 2 points compared to January. This growth indicates continued positive trends in the country’s business environment.
Nearly half of the respondents — 48% — described the current business climate as satisfactory, 5% higher than the previous month. Meanwhile, 49% of entrepreneurs reported stable demand for goods and services over the past three months — a 7% increase compared to January. These figures confirm steady consumer interest and market stability. Optimism among entrepreneurs is also growing: 73% of survey participants expect improvements in the business environment in the near future. Regarding price dynamics, only 6% of respondents anticipate a decrease in prices — 2% less than in January — indicating continued stability in the economy.
Sectoral analysis showed varying trends. In industry, the business climate index rose by 8 points to reach 65 points. In construction, it increased by 7 points to 61. In the service sector, growth was modest — just 1 point — reaching 53 points. Meanwhile, agriculture saw a slight decline of 2 points, bringing the index down to 25 points.
Among the current challenges facing businesses, limited access to financing remains one of the most frequently mentioned, cited by 8% of respondents — down 1% from January. Concerns over high tax rates increased from 4% to 6%. At the same time, anxiety over tax administration declined from 5% to 4%. Regarding electricity supply, the situation remains stable, with fewer complaints from businesses.
Overall, the survey results reflect positive developments in Uzbekistan’s business environment, growing confidence among entrepreneurs, and the strengthening of economic stability.
Sectoral analysis showed varying trends. In industry, the business climate index rose by 8 points to reach 65 points. In construction, it increased by 7 points to 61. In the service sector, growth was modest — just 1 point — reaching 53 points. Meanwhile, agriculture saw a slight decline of 2 points, bringing the index down to 25 points.
Among the current challenges facing businesses, limited access to financing remains one of the most frequently mentioned, cited by 8% of respondents — down 1% from January. Concerns over high tax rates increased from 4% to 6%. At the same time, anxiety over tax administration declined from 5% to 4%. Regarding electricity supply, the situation remains stable, with fewer complaints from businesses.
Overall, the survey results reflect positive developments in Uzbekistan’s business environment, growing confidence among entrepreneurs, and the strengthening of economic stability.
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