ALMATY, Kazakhstan, December 18. Economists at
the Eurasian Development Bank (EDB) expect Uzbekistan’s economy to
grow by 6.8% in 2026, said Artur Sharafutdinov, Head of the bank's
Country Analysis Center at the Analytical Directorate, Trend reports.
Speaking at the presentation of the bank’s macroeconomic
forecast for 2026-2028 in Almaty, Sharafutdinov noted that economic
growth will be fueled by big-ticket investments and heavy-hitting
projects in energy, industry, and infrastructure. These include
solar power plants, data centers, green hydrogen and ammonia
projects, the expansion of transport infrastructure, and urban
development under the “New Uzbekistan” initiative.
“Moreover, inflation will gradually move closer to the target
level of 5% and, according to our forecasts, will amount to about
6.7% by the end of 2026,” Sharafutdinov noted.
According to EDB forecasts, the Central Bank is expected to keep
the base interest rate at around 14% per annum for now, with a
gradual reduction to approximately 13% by the end of 2026. The
projected mean exchange rate for the Uzbek sum is anticipated to
hover around 12,800 per US dollar, with stringent monetary policy,
robust export expansion, and substantial remittance inflows
expected to mitigate downward pressure on the national
currency.
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