President Shavkat Mirziyoyev announced on April 24 that Uzbekistan's gross domestic product (GDP) growth accelerated to 8.7% in the first quarter of 2025. This is 1.9 percentage points higher than the 6.8% recorded in the same period last year.
Economist Mirkomil Kholboyev noted that since the launch of a new reform phase, first-quarter economic growth has never exceeded 7%. Since 2018, only once has quarterly GDP growth surpassed the current level — in the third quarter of 2021, when the economy expanded by 8.8% in real terms.
Amid a halt in gold supplies, export volumes fell to $5.8 billion (compared to $8.1 billion a year earlier), while foreign investments reached $13.7 billion. Annual inflation dropped to 7.1% for the first time, down from 10.3% last year.
President Mirziyoyev emphasized that the country maintains stable economic growth amid high business activity. He claimed that this is confirmed by the International Monetary Fund's report and Uzbekistan's improved positions in international rankings. For instance, in the Economic Freedom Index, the country rose 14 spots to 86th place.
"Those who know the difficult and thorny path we have taken understand this. But those who receive salaries without working are traveling on the same train as those who work. Unfortunately, some still haven't woken up," the president said.
Mirziyoyev warned that the strong first-quarter results do not guarantee the same pace for the rest of the year. "In the current environment of global conflicts, confrontations, and the struggle for leadership, the world will not be as calm as before," he allegedly stated.
According to the president, 140 trillion soums are being allocated through banks to develop small and medium businesses in 2026. However, the efficiency of these funds varies significantly by region: in Shirin, every 1 billion soums in loans created 20 jobs, while in Uchkuprik district, only 3 jobs were created per 1 billion soums.
The meeting set the task of integrating artificial intelligence into project selection and credit allocation. The president ordered training for regional bankers in AI and the launch of an "AI Advisor" platform, which is supposed to analyze project parameters, risks, and market demand, providing ready-made solutions to entrepreneurs.
Source: www.gazeta.uz