UzAFI – State Investment Committee of the Republic of Uzbekistan

01/13/2022 | Press release | Distributed by Public on 01/13/2022 15:21

Strategy “New Uzbekistan” 2022 – 2026: macroeconomic stability

The draft Development Strategy consists of seven priority areas and is based on the election program of President Shavkat Mirziyoyev, the tasks identified in the speech of the head of state at a joint meeting of the chambers of the Oliy Majlis, dedicated to the inauguration of the newly elected President.

In particular, the gross domestic product per capita is expected to increase by 1.6 times over the next five years, and per capita income will reach US$4,000 by 2030, thanks to which Uzbekistan will be able to join the ranks of "states with an upper-middle income".

The average annual GDP growth rate in 2023-2025 will amount to 6.5%, and the annual growth rate of lending to the economy is planned at the level of 16-18%.

In the field of ensuring macroeconomic stability, it is planned to gradually reduce the annual inflation rate from 9% in 2022 to 5% by 2023, as well as reduce the State budget deficit, which from 2023 should not exceed 3% in relation to GDP.

A transition to a program budgeting system is also planned. The Citizens' budget will be adopted and 5% of the budget of each district will be directed to solving urgent issues, based on the proposals of the population. 50% of the funds allocated for the repair of internal roads will be distributed based on public opinion

The amount of annual external borrowing will not exceed US$4.5 billion. At the same time, the public debt will remain below 60% of GDP.

The discussion of the Development Strategy of the "New Uzbekistan" for 2022-2026 will last until 15 January 2022.