BAKU, Azerbaijan, February 10. GDP growth of Uzbekistan in 2023 will slow down after strong growth in 2022, Trend reports, citing the S&P Global report.
S&P Global forecasts Uzbekistan’s GDP growth at 5.0 percent in 2023, as compared to 5.8 percent in 2022.
This figure is expected to rise to 5.5 percent in 2024, and will remain stable by 2025, reads the report.
According to the report, Kazakhstan's GDP growth will rise from 3.0 percent in 2022 to 4.1 percent in 2023, while by 2025 real GDP growth will start to grow, reaching 3.8 percent, after declining in 2024 (3.6 percent).
Furthermore, the World Bank projected Uzbekistan's GDP is expected to grow by 4.9 percent (0.4 percent less than previously forecasted) in 2023.
At the same time, the UN's Department of Economic and Social Affairs forecasts Uzbekistan’s GDP growth in 2023 will remain close to 2022 levels - at 5.8 percent. According to the UN’s report, Uzbekistan’s real GDP growth will reach 5.6 percent in 2024.