According to data released by the State Statistics Committee of the Republic of Uzbekistan, the country's gross domestic product (GDP) grew by 6.2% in the first quarter of 2024 compared to the same period last year. This indicator reflects the effectiveness of the government's policies on economic reforms and attracting investments.

Economic growth was primarily driven by activity in industry, construction, and services. Industrial production increased by 7.1%, and construction volume rose by 8.5%, indicating the implementation of infrastructure projects and the opening of new enterprises. Positive dynamics were also observed in the services sector, including tourism and transport.

As stated by the Chairman of the Statistics Committee, Alisher Qodirov, “The stability of growth rates has been a key factor in ensuring the country's macroeconomic stability and the inflow of foreign investments.” He also emphasized the need to focus on diversification and innovations to maintain growth in subsequent quarters.

However, despite economic growth, some experts warn about issues of inflationary pressure and unemployment. According to statistical data, the inflation rate stood at 8.3%, leading to an increase in consumer prices. The government announced plans to strengthen social programs and improve the business environment to address these problems.

Source: www.aljazeera.com