Uzbekistan Surpasses Kazakhstan in Bank of America’s Ranking of Fastest-Growing Economies

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan has overtaken Kazakhstan in the ranking of the fastest-growing economies in the EEMEA region (Europe, Middle East, and Africa), compiled by Bank of America.

As of 1 September, Uzbekistan ranked ninth among 45 countries, while Kazakhstan was placed tenth.

According to analysts, Uzbekistan’s economy grew by 5.9% at the start of autumn. The state budget deficit stood at 2.3% of GDP, while public debt amounted to 33% of GDP. Inflation was recorded at 8.8% — lower than in Kazakhstan, where it reached 10.4%.

Uzbekistan’s current account deficit was noted at 5%.

Bank of America emphasized that these figures reflect the country’s steady economic growth trajectory despite ongoing regional challenges.