Uzbekistan's economy expanded by 8.5% in the first half of 2026, President Shavkat Mirziyoyev announced on July 21 during a video conference meeting dedicated to the results of the first half of the year and tasks for the remainder of the year.

According to the president, industrial output grew by 8%, the services sector by 16.9%, construction by 13.8%, and agriculture by 4.7%. Investment volume reached $28 billion, while exports totaled $14.4 billion.

Mirziyoyev noted that Fitch and Moody's have upgraded Uzbekistan's sovereign credit rating by one notch. However, he stressed that to significantly improve the living standards of the country's 40 million population, economic growth rates must be raised to 9-10%.

The meeting included a critical analysis of the implementation of half-year plans in regions and sectors. It was noted that some regions failed to fully utilize opportunities to increase gross regional product, construction, and investment.

The president demanded that regional and sector leaders not limit themselves to reports but identify additional reserves and achieve concrete results by the end of the year. He emphasized that if the work of a minister or governor does not translate into improved quality of life for the population, the achieved indicators remain mere 'numbers on paper'.

Earlier, the Ministry of Economy and Finance revised its 2026 economic growth forecast upward from 6.6% to 8.1%. GDP is expected to reach approximately $180 billion, with inflation around 6.5%.

Source: www.gazeta.uz