The State Statistics Committee of the Republic of Uzbekistan has officially announced the country's economic indicators for the first quarter of 2024. According to the data, the gross domestic product (GDP) growth rate reached 6.2%, which is slightly lower than the same period last year but aligns with government forecasts. Committee Chairman Bahodir Qo‘chqorov stated: "Key sectors of the economy—industry, agriculture, and services—are showing steady growth, indicating the stable development of our country."

However, despite the economic growth, some challenges persist. Experts highlight that the inflation rate remains high and could negatively impact the population's standard of living. Data from the Central Bank of Uzbekistan shows annual inflation hovering around 10%, exceeding the government's target to reduce it to 8%. Economist Olimjon Nazarov commented: "Growth rates are positive, but if issues like rising prices and unemployment are not addressed, economic stability could be at risk."

The government is implementing various measures to stimulate economic growth, including attracting foreign investment and supporting small businesses. According to President Shavkat Mirziyoyev, the country intends to continue economic reforms, but this process is slow and faces difficulties due to uncertainties in the global economy. The Statistics Committee plans to announce forecasts for upcoming quarters, which will provide a clearer picture of the economic situation.

Source: www.dw.com