Economy

President Mirziyoyev signed a decree on February 25 returning the Takhiatash Thermal Power Plant to the management of Thermal Power Plants and under the government control.

Uzbekistan and Afghanistan will expedite the taking effect of the preferential trade deal and significantly expand trade volumes, the Deputy PM Jamshid Khodjaev announced on his LinkedIn page.

Uzbekistan's public debt topped $46.8 billion as of late 2025, the Ministry of Economy and Finance said in a report today. Reportedly, $39.8 billion of this amount is external public debt, while $7 billion is domestic public debt.

According to the 2026 State Program, approved by the president Mirziyoyev, no state-owned bank will be privatized in 2026.

Uzbekistan plans to step up manufacturing of finished goods from domestically produced raw materials, to boost processing volumes, and revise customs duties on imported raw materials for local businesses, the president Shavkat Mirziyoyev announced at a meeting on February 13.

As of late 2025, Uzbekistan defines its national poverty line, set at 669,000 soums (approx. $54.5) per person per month, which is less than the half of the $126 threshold that the World Bank uses for lower middle-income countries.

Uzbekistan's gold and foreign exchange reserves reached $75.08 billion as of February 1, 2026, the highest figure ever, the Central Bank said in a report.

In 2025, the average monthly gross salary in Uzbekistan was 6.38 million soums (or approximately $507), marking an 18.9% increase to 2024, the National Statistics Committee said in a report.

Uzbekistan-bound remittances reached $18.9 billion in 2025, recording a 27.2% increase to $14.8 billion in 2024, the Central Bank (CB) said.

An "important strategic decision" has been made to increase oil and gas production at fields in Gazli area, Uzbekneftegaz said.

State-owned Uzbekneftegaz may join the M-25 gas field project as a trusted partner to hire specialists from American companies, including General Electric.

Uzbekistan's GDP grew by 7.7% in 2025, the Statistics Committee said in a report. Compared to 2024, this is up by 1 percentage point, with economic growth reached its highest since 2021. Inflation slowed to 7.3% (from 9.8% in 2024), and real growth in total household income reached 9.2% (from 11.7% a year earlier).

By decree of January 19, the President of Uzbekistan lifting customs duties on the import of 82 raw material and semi-finished items until January 1, 2027.

As of January 1, 2026, Uzbekistan's gold and foreign exchange reserves stood at $66.3 billion, increasing by $5.1 billion in December, the Central Bank said in a report.

Inflation rate in Uzbekistan in 2025 reached 7.3%, lower than the 9.8% the year before, the National Statistics Committee. Reportedly, this is the lowest rate in the past nine years (in 2023, it was 8.8%).

The President Shavkat Mirziyoyev has signed the 2026 State Budget Bill into Law on Thursday, December 25. According to the law, the growth of the gross domestic product is projected to reach $160 billion in 2026, growing 6.6%.

In January-November 2025, Uzbekistan's imports topped $41.9 billion, with China becoming the largest exporter to Uzbekistan on $12.8 billion, the National Statistics Committee said in a report.

A number of major projects will be launched in 2026 as part of the technological modernization of the Uzbek industry and expansion of the added value chain. In particular, a new $2.7 billion metallurgical complex project with 300 thousand tons of copper cathodes manufacturing annual capacity will be launched at the Almalyk Mining and Metallurgical Plant.