BAKU, Azerbaijan, April 10. The World Bank (WB) forecasts the inflation rate in Uzbekistan to stand at 11.8 percent in 2023 – a slight surge, compared to the 11.4 percent estimated for 2022, Trend reports, citing the WB's Europe and Central Asia Economic Update.
At the same time, the report says that Uzbekistan's inflation rate to slow down to 10 percent in 2024, and this figure will register an additional drop to 6.6 percent in 2025.
“Continued growth and expanded social protection programs are expected to sustain poverty reduction, and the national poverty rate is projected to fall to 12 percent in 2023”, the bank notes.
The bank notes that among the Central Asian countries in 2023, the lowest inflation rate will be recorded in Tajikistan – 5.6 percent, while the country’s inflation is expected to rise up to 6.5 percent in 2024 and this will remain stable by 2025.
Furthermore, WB forecasts Uzbekistan’s GDP growth at 5.1 percent in 2023, and this indicator is projected to stand at 5.4 percent in 2024, while in 2025 the country’s real GDP growth will reach 5.8 percent.
At the same time, Asian Development Bank says that Uzbekistan's inflation rate will reach 11 percent in 2023, while this figure will register to drop to 10 percent in 2024.