The European Bank for Reconstruction and Development (EBRD), in its latest report "Regional Economic Prospects," has raised its forecast for Uzbekistan's economy: GDP growth is expected to reach 6.5% in 2026 and around 6% in 2027. The beginning of the year, however, significantly exceeded expectations – in the first quarter of 2026, the economy grew by 8.7% year-on-year.
The main driver of growth was domestic demand. Increased remittances and rising wages supported consumption and accelerated the development of the services sector. Additionally, industry grew by approximately 8%, and construction showed even higher dynamics – 15.5%. The EBRD notes that an acceleration of privatization could provide additional impetus, but risks remain, including dependence on external remittances and geopolitical factors.
Overall, the Central Asian region, according to the bank's assessment, will remain one of the most dynamic in its area of operation. The combined growth of the region's countries in 2026 is expected to be 5.6%. Uzbekistan stands out as one of the leaders in economic expansion rates, maintaining stability even amidst a gradual slowdown in global economic activity.
