BAKU, Azerbaijan, July 21. Uzbekistan's economy
expanded by 8.5% in the first half of 2026, driven by robust growth
in services, construction and industry, President Shavkat
Mirziyoyev said as he chaired a government meeting reviewing the
country's economic performance and priorities for the remainder of
the year.


This was reflected in the statement published by the official
channel of the Press Secretary to the President of the Republic of
Uzbekistan.


Opening the videoconference meeting, Mirziyoyev instructed
ministers and regional officials to move beyond reporting results
and instead present concrete plans for unlocking additional sources
of growth amid an evolving global economic environment.


"The officials who speak today should not limit themselves to
reporting on what has been achieved," Mirziyoyev said. "They must
clearly explain what new reserves they have identified, what
mechanisms they are putting in place to utilize them, and what
results they expect to achieve by the end of the year."


He also stressed that government leaders should prepare
contingency plans to respond to changes in the global economy.


"In today's rapidly changing global environment, every leader
must work with additional scenarios," the president said.


According to Mirziyoyev, Uzbekistan's industrial output
increased by 8% during the first six months of the year, while the
services sector grew 16.9%, construction expanded 13.8%, and
agriculture recorded 4.7% growth.







The president said the country attracted $28 billion in
investment during the reporting period, while exports reached $14.4
billion, underscoring continued momentum in Uzbekistan's efforts to
expand production and strengthen its position in international
markets.


Mirziyoyev also highlighted recent upgrades to Uzbekistan's
sovereign credit rating by international agencies Fitch Ratings and
Moody's Ratings, saying the improved assessments reflect growing
confidence in the country's economic reforms and macroeconomic
stability.


Despite the strong performance, the president said the current
pace of growth is not sufficient to meet the country's long-term
development goals.


"To improve the lives of a population of 40 million people, we
need economic growth of 9-10%," Mirziyoyev said.


The meeting focused on assessing progress made during the first
half of the year and identifying additional measures to sustain
economic momentum through the end of 2026. The government's
emphasis on higher growth comes as Uzbekistan continues
implementing structural reforms aimed at attracting foreign
investment, expanding exports, improving productivity and
maintaining strong economic performance despite an uncertain global
environment.