Uzbekistan's GDP Could Reach $200 Billion by 2030
Economy
Uzbekistan's Ministry of Economy and Finance has provided updated forecasts for GDP and inflation, with projections showing the country's GDP could reach $200 billion by 2030.
According to First Deputy Minister of Economy and Finance Ilhom Norkulov, the president has set the goal of reducing the state budget deficit to 3% of GDP next year, while inflation should not exceed 7%.
Norkulov added that Uzbekistan's GDP is expected to reach $110 billion this year, with projections showing it could grow to $200 billion by 2030. GDP per capita is also forecasted to rise to $5,000.
The president has tasked the government with developing a new program focusing on expanding production in major industries such as copper, gold, and metallurgy, with an emphasis on import substitution.
Deputy Minister Ahadbek Haydarov also stated that in 2025, the focus will be on economic stability and the efficient use of the state budget. Tax rates, including VAT and corporate profit tax, are expected to remain unchanged.
Norkulov added that Uzbekistan's GDP is expected to reach $110 billion this year, with projections showing it could grow to $200 billion by 2030. GDP per capita is also forecasted to rise to $5,000.
The president has tasked the government with developing a new program focusing on expanding production in major industries such as copper, gold, and metallurgy, with an emphasis on import substitution.
Deputy Minister Ahadbek Haydarov also stated that in 2025, the focus will be on economic stability and the efficient use of the state budget. Tax rates, including VAT and corporate profit tax, are expected to remain unchanged.
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