The EBRD forecasts a 6.7% GDP growth for Uzbekistan by the end of 2025

The European Bank for Reconstruction and Development noted the acceleration of economic growth in Uzbekistan, according to the organization’s report.

According to the information, the agency noted such dynamics in all Central Asian countries. In particular, for the period from January to June 2025, regional GDP increased by 6.6%, and by the end of 2025, economists expect an annual growth of 6.2%, which is 60 basis points higher than in 2024.

At the same time, aggregate demand in the countries of the region is growing due to remittances from abroad and budgetary incentives. In addition, the specialists noted the rise in industrial production, the expansion of investments, and the growth of wages in real terms.

Thus, Uzbekistan showed growth of 7.2% in the first half of the year. In the country, along with the increase in transfers, experts also noted a 30% increase in exports due to gold and tourism, which compensated for the decrease in gas production. Based on the results of 2025, the EBRD forecasts a 6.7% GDP growth for the country, which is, however, lower than in Kyrgyzstan and Tajikistan. In 2026, the growth rate is expected to decrease to 6%, however, the country must equal Kyrgyzstan and surpass Tajikistan.

Earlier, it was reported that the Central Bank had retained the key interest rate. In August, overall inflation decreased slightly compared to July.