Uzbekistan's 2025 Economic Strategy Discussed at Presidential Meeting
Economy
President Shavkat Mirziyoyev led a crucial meeting focused on the results of economic growth in 2024 and the key macroeconomic indicators planned for 2025. Despite global challenges, Uzbekistan’s economy continues to show stable growth.
During the meeting, it was reported that the country's economy grew by 6.6% in the first nine months of 2024, with the industrial sector increasing by 7%. The year-end growth is expected to reach at least 6%. Additionally, the country’s gold and foreign currency reserves exceeded $40 billion for the first time.
Confidence from foreign investors in Uzbekistan's economic policies is rising, highlighted by the successful placement of $4 billion in Eurobonds on international markets. As a result, the share of investments in GDP will exceed 33%, and exports are expected to grow by nearly 19%.
Looking ahead to 2025, the focus is on increasing the production of high-value-added goods and creating a more competitive market environment. A special program will be developed for each sector to enhance labor productivity and value-added chains.
It was also emphasized that budget revenue growth will primarily depend on improving tax administration, which will be achieved through digitization and the use of artificial intelligence, without interfering in the activities of entrepreneurs.
Confidence from foreign investors in Uzbekistan's economic policies is rising, highlighted by the successful placement of $4 billion in Eurobonds on international markets. As a result, the share of investments in GDP will exceed 33%, and exports are expected to grow by nearly 19%.
Looking ahead to 2025, the focus is on increasing the production of high-value-added goods and creating a more competitive market environment. A special program will be developed for each sector to enhance labor productivity and value-added chains.
It was also emphasized that budget revenue growth will primarily depend on improving tax administration, which will be achieved through digitization and the use of artificial intelligence, without interfering in the activities of entrepreneurs.
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