Uzbekistan to Lead CIS with Strong Economic Growth

Uzbekistan’s economy is expected to show some of the highest growth rates among CIS countries over the next three years, outpacing regional averages and maintaining resilience to external shocks, according to the UN’s World Economic Situation and Prospects 2026 (WESP 2026) report.

UN experts estimate that Uzbekistan’s GDP grew by 7.3 per cent in 2025, one of the best results in the region, The Caspian Post reports via Uzbek media.

Strong growth was supported by robust domestic demand, rising real incomes, and large-scale government infrastructure investments, including joint projects with China. Economic growth is projected to slow slightly to 6.0 per cent in 2026 and 5.9 per cent in 2027, remaining well above the CIS average.

Positive trends are also seen in price stability. Inflation in 2025 reached 9.0 per cent and has since begun to decline. UN forecasts predict consumer price growth will slow to 7.1 per cent in 2026 and 5.8 per cent in 2027, thanks to stabilizing global food and energy prices and monetary policies aimed at controlling inflationary pressures.

Analysts note, however, that certain vulnerabilities remain. Uzbekistan’s economy remains sensitive to global gold price fluctuations, as gold is a key export. Other risks in 2026-2027 include logistical constraints typical of landlocked countries and the agricultural sector’s dependence on extreme weather conditions.

Despite these challenges, Uzbekistan remains a regional economic leader as the CIS average growth is expected to slow to 2.2 per cent in 2026. The report emphasizes that continued growth will depend on effective structural reforms, including productivity improvements, digital economy development, and institutional modernization, which will help offset a gradual decline in transit trade revenues.