For Uzbekistan, the ADB anticipates a GDP growth rate of 6% in 2024, an increase of 0.5% from its April forecast, and 6.2% in 2025, reflecting a 0.6% rise. This positions Uzbekistan as the second-highest growth performer in the region, just behind Tajikistan, which is projected to grow at 6.5%.

According to ADB experts, a significant factor driving Uzbekistan’s GDP growth is the acceleration in key economic sectors, particularly industry and construction. In the first half of the year, Uzbekistan's industrial sector registered a growth of 7.8%, a notable increase compared to 5.6% from the previous year. The construction industry has also seen remarkable performance, doubling its growth rate to 10.1%, fueled by heightened investments in infrastructure and residential projects.

Consumer spending has also played a crucial role in the economic upturn, with a projected increase of 5.5% in 2024, attributed to recent salary and pension indexations.

In addition to these growth figures, the ADB has adjusted its inflation forecasts. The inflation rate is now expected to decline to 9.5% in 2024, a 0.5% reduction from earlier projections, and to 9% in 2025. This decrease in inflation rates is linked to an increase in the domestic supply of food products and a drop in prices for imported goods. Despite rising energy costs, overall inflation levels have diminished, according to the bank’s experts.

The positive adjustments in economic forecasts reflect Uzbekistan's ongoing efforts to enhance its economic resilience and stability, positioning the country favorably for future growth.