Tashkent, Uzbekistan (UzDaily.com) -- Economic growth in Uzbekistan in 2024 is expected to be 5.2%, according to forecasts of experts from the International Monetary Fund (IMF).

According to the IMF, in 2023, Uzbekistan’s GDP growth made up 6%. Compared to the December 2023 forecast, this figure improved by 0.3 percentage points.

The improvement in assessment is associated with increased budget expenditures, high growth in wages and exports.

The IMF forecast for 2024 assumes a slowdown in economic growth to 5.2%. According to the forecast, in 2025, Uzbekistan’s GDP will grow by 5.4%.

In 2023, inflation in Uzbekistan was 10%. The IMF predicts that in 2024 it will reach 11.6%, but in 2025 inflation will slow to 9.7%.

The IMF notes that the poverty rate will fall from 8.4% in 2023 to 7.4% in 2025.