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.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
Georgia’s TBC Bank weighs up separate IPO for TBC Uzbekistan digital bank
London-listed TBC Bank Group PLC (LON: TBCG) is weighing up conducting a separate initial public offering (IPO) for its TBC Uzbekistan digital bank business. Reuters on February 24 ... more
IndiGo cancels Central Asian flights until late February over Iran tensions
Indian budget carrier IndiGo has cancelled all flights to and from Tbilisi, Almaty, Baku and Tashkent until February 28 due to the developing situation around Iran, the airline announced on February ... more