Gazprombank forecasts Uzbekistan growth at 6.5% in 2024

By Muzaffar Ismailov in Tashkent July 2, 2023

Russia's Gazprombank has forecast that Uzbekistan's economy will grow by 6.5% next year, Trend reported, citing the deputy head of the market analysis department at the bank, Gulnara Haidarshina as saying.

For this year, Gazprombank sees 5.8% this year. Growth was 7.4% in 2021 and 5.7% in 2022.

High rates of economic growth would be achieved due to the Mirziyoyev administration's approved development strategy to 2026, the bank said.

"The development strategy to 2026 has been approved: among its tasks is growth of industrial production by 40% and [taking] exports up to $30bn," Haidarshina said.

In 2022, Uzbekistan's exports amounted to $19.3bn.

More products with high added-value and expanding the geography of exports, from 115 to150 countries, are two of Uzbekistan's export development aims.

According to Haidarshina, the existing share of products with high added-value was almost 60% of exports.

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