How did the World Bank assess Uzbekistan's economic growth in 2024?

^{Photo: Ministry of Economy and Finance}
The World Bank has published its latest report on "Global Economic Prospects." It analyzes trends, forecasts, and potential risks in the global economy, as well as in the Europe and Central Asia regions.

According to the report, Uzbekistan's gross domestic product (GDP) is expected to grow by 6 percent by the end of 2024. The World Bank's forecasts for 2025 and 2026 indicate that the Uzbek economy will record growth rates of 5.8 and 5.9 percent, respectively.

On the other hand, economic growth in the Europe and Central Asia region is expected to slow down to 3.2 percent in 2024. This is mainly related to the slowdown in economic activity in Russia and Turkey.

Although the decline in commodity prices has somewhat eased the situation, problems in labor markets, especially in the service sector, continue to exert high pressure on wages.

Additionally, experts believe that remittance flows to Central Asian countries, including Tajikistan, remain stable. This helps maintain the level of consumer spending.