BAKU, Azerbaijan, April 6. The World Bank (WB) forecasts Uzbekistan’s GDP growth at 5.1 percent in 2023, Trend reports via the World Bank Global Economic Prospects report.
The bank also projects that the country’s real GDP growth in 2024 at 5.4 percent, while in 2025 this indicator will reach 5.8 percent.
Furthermore, the GDP of Central Asia in 2023 is projected at 4 percent (0.1 percent more than previously forecasted).
“GDP growth of Central Asia is expected to increase moderately to an average of 4.3 percent over 2024–25, supported by progress in advancing structural reforms in Uzbekistan, Kazakhstan, and Tajikistan”, the report says.
Previously, the WB, in its January report, forecasted Uzbekistan’s GDP growth at 4.9 percent in 2023.
The WB also estimated Uzbek's GDP growth in 2022 at a level of 5.7 percent.
Meanwhile, European Bank for Reconstruction and Development (EBRD) forecasts Uzbekistan’s GDP growth of 6.5 percent in 2023, while in 2024 this indicator will reach 7 percent.
At the same time, Asian Development Bank (ADB) forecasts Uzbekistan’s GDP growth at 5 percent in 2023.