Uzbekistan among five fastest-growing economies in Europe and Central Asia

TASHKENT, Uzbekistan (MNTV) — Uzbekistan ranks among the five fastest-growing economies in Europe and Central Asia (ECA), according to the World Bank’s latest Europe and Central Asia Economic Update: Jobs and Prosperity, released this week.

The report projects Uzbekistan’s GDP to grow by 6.2% in 2025 and 6% in 2026, placing it alongside the Kyrgyz Republic, Tajikistan, Georgia, and Kazakhstan as regional growth leaders. The broader Central Asian subregion is forecast to expand by 5.9% in 2025, up from 5.7% last year, driven by rising oil output, strong remittances, and higher public and private investment.

Across the wider ECA region, growth is expected to slow to 2.4% this year from 3.7% in 2024, largely due to weaker performance in Russia. Excluding Russia, growth will remain steady at around 3.3% through 2026.

The World Bank notes that Central Asia remains the fastest-growing subregion in ECA for the third consecutive year, despite challenges such as inflation, geopolitical tensions, and slow structural reforms.

The report identifies key drivers of Uzbekistan’s growth, including chemicals manufacturing, ICT services, and horticulture. It recommends modernizing industry regulations, improving broadband access, and investing in irrigation and agricultural R&D to boost productivity and exports.

It also emphasizes the need to strengthen education, vocational training, and job opportunities for women and youth, who remain underrepresented in the workforce.

“The region’s potential lies in unlocking private investment and diversifying its economies,” the report says, adding that improvements in infrastructure, business climate, and energy efficiency will be essential to sustain long-term growth.