According to data released by the Ministry of Economy and Finance of Uzbekistan, the country's gross domestic product (GDP) grew by 6.2% in the first half of 2024. This indicator maintains a stable dynamic compared to previous years, with positive shifts observed in key sectors of the economy.

Specifically, industrial production increased by 7.1%, construction by 8.3%, and the services sector by 5.8%. Agriculture also recorded growth of 4.2%. Export volume reached $12.5 billion, which is 8.4% higher than in the same period last year.

Deputy Minister of Economy Sherzod Khodjaev stated that “the main factors of economic growth are increased investment activity, expansion of export geography, and stability of domestic demand.” Additionally, $2.3 billion in investments were attracted under public-private partnership projects.

However, experts warn of certain external risks. In particular, changes in global market prices and geopolitical tensions could negatively impact Uzbekistan's economy. The inflation rate stands at 9.8%, which is above the target level.

The government plans to achieve GDP growth of 6.5% by the end of 2024. To this end, measures are being taken to modernize industry, improve energy efficiency, and support small businesses. Specialists from the International Monetary Fund and the World Bank positively assess the medium-term prospects of Uzbekistan's economy.

Source: uznews.uz