Tashkent, Uzbekistan (UzDaily.com) —  Uzbekistan’s economic growth is expected to reach 6.6% in 2025, with projections indicating a strengthened performance in 2026. The report highlights the critical role of regional cooperation in the country’s sustainable development, according to the latest report from the Asian Development Bank (ADB).

In the April issue of the annual economic review "Asian Development Outlook" for 2025, ADB notes a moderate increase in Uzbekistan's GDP this year and forecasts a growth rate of 6.7% for the next year. The stable expansion of the economy is expected to be driven by the continued development of industrial and service sectors, along with domestic demand.

"The 6.5% GDP growth in 2024 has been made possible by the government's targeted policy to support key economic sectors such as industry and construction," said Kanokpan Lao-Ariya, ADB’s Country Director in Uzbekistan. "Ongoing infrastructure development and regional integration are laying a strong foundation for sustainable and balanced economic growth in the future."

According to the report, inflation in 2024 decreased to 9.4% compared to 10% the previous year, thanks to tight monetary policy and a reduction in transportation costs for imports. However, inflation in the services sector rose to 21.8% due to the increase in regulated tariffs for electricity and natural gas. Inflationary pressures are expected to gradually ease, with forecasts predicting 8.0% in 2025 and 7.0% in 2026, despite anticipated increases in energy prices.

The fiscal deficit is expected to reduce to 4.0% of GDP in both forecast years due to fiscal consolidation measures and stable income from state-owned enterprises in the mining sector.

Industrial production is forecasted to grow by 7.0% annually, supported by sustained external demand for food, petrochemical, and textile products, as well as domestic demand for mining resources. The service sector is expected to maintain its upward trajectory, with projected growth of 7.8% in 2025 and 7.9% in 2026.

The report also highlights the development of economic corridors, which are expected to boost Uzbekistan's participation in regional production and supply chains. Due to its landlocked status, the country is focusing on strengthening regional integration and developing transport and logistics infrastructure to diversify foreign trade routes, reduce costs, and accelerate deliveries.

2025 marks the 30th anniversary of Uzbekistan's partnership with the Asian Development Bank. Since Uzbekistan joined ADB in 1995, the bank has provided US$14.5 billion in funding through loans, grants, and technical assistance to the public sector.

Founded in 1966, ADB is a leading multilateral development bank focused on ensuring sustainable, inclusive, and adaptive economic growth across the Asia-Pacific region. By collaborating with member states and partners, ADB uses innovative tools and strategic alliances to improve quality of life, develop infrastructure, and protect the environment. The bank has 69 member countries, 49 of which are from the Asia-Pacific region.