TASHKENT, Uzbekistan, April 25. The Central Bank of Uzbekistan projects the country’s real gross domestic product (GDP) to amount to 5.2–5.7 percent in 2024, Trend reports.
According to the Bank, the reason for this is associated with more moderate consumer demand in the future due to structural changes in the expenditures of households and businesses.
At the same time, the CBU notes that high activity in private investment, fiscal stimuli, and the growing dynamics of household incomes, as in previous years, will be the factors supporting economic growth in the current year.
Earlier, the Central Bank of Uzbekistan projected real GDP growth to reach 5.5–6 percent in 2024. The main drivers of economic growth were consumer demand and an increase in foreign and domestic direct investment under the influence of structural reforms.
Meanwhile, the International Monetary Fund (IMF) projects that Uzbekistan’s real gross domestic product (GDP) will amount to 5.2 percent in 2024. According to the IMF's World Economic Outlook report, Uzbekistan's real GDP rate is predicted to fall by 0.8 percent year over year.