The International Monetary Fund (IMF) has released an updated report significantly revising Uzbekistan's economic growth projections for the upcoming years. According to the published document, the GDP growth forecast for 2026 has been raised from the previously estimated 6.8 percent to an ambitious 7.8 percent. Furthermore, the economic growth projection for 2027 has been increased from 6 percent to 6.5 percent.

Alongside the growth upgrades, the financial institution has adjusted its inflation expectations upward. Consumer prices are now projected to rise by 6.9 percent in 2026 and by 5.7 percent in 2027. By comparison, the IMF's April report had anticipated inflation to reach 6.8 percent in 2026 and 5 percent in 2027, signaling persistent price pressures in the market.

On the labor market front, the organization projects a steady decline in unemployment rates. While unemployment was estimated at 4.8 percent at the close of 2025, it is expected to decrease to 4.3 percent in 2026 and further down to 3.8 percent by 2027, reflecting positive trends in domestic employment.

However, the updated assessments also highlight a widening current account deficit. According to the latest figures, the negative balance will account for 5.1 percent of the economy in 2026 and 4.6 percent in 2027. For context, the deficit for 2025 was previously estimated at 3.9 percent, indicating mounting external vulnerabilities.

Source: kun.uz