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 figure surpassed the government's forecast of 5.5-6%, indicating steady economic development.

The growth was primarily driven by activity in industry, construction, and services. Industrial production increased by 7.1%, while construction volume rose by 8.5%, reflecting strengthened infrastructure projects and investments. Additionally, tourism and transport services also showed significant growth.

Despite the economic growth, experts highlight challenges such as rising prices and unemployment issues. Statistical data shows that the inflation rate stood at 10.3%, which could negatively impact the living standards of the population. The government plans to revise economic policies to address these problems.

The country's leadership announced new initiatives to stimulate economic growth and ensure stability. These include attracting foreign investment, supporting small and medium-sized businesses, and introducing technological innovations. Maintaining growth rates in the coming years is a key objective of the country's development strategy.

Source: uznews.uz