Economic growth must reach 9−10% to significantly improve living standards — president of Uzbekistan

Uzbekistan's economy expanded by 8.5% in the first half of 2026, yet President Shavkat Mirziyoyev stressed that annual growth must accelerate to between 9% and 10% to substantially improve the living standards of the nation's 40 million citizens. He conveyed this during a videoconference reviewing the first-half performance and outlining priorities for the remainder of the year.

During the meeting, officials reported that industrial output increased by 8% in the first six months, while the services sector saw a significant expansion of 16.9%. Construction grew by 13.8%, and agriculture rose by 4.7%. Investment reached $28 billion, with exports totaling $14.4 billion. The president also noted that international rating agencies Fitch and Moody's had upgraded Uzbekistan's sovereign credit rating by one notch.

President Mirziyoyev instructed regional and sector leaders to go beyond merely reporting completed tasks. He demanded they identify and articulate additional growth opportunities, outline strategies to leverage them, and specify the expected outcomes by year-end. He also urged officials to prepare for alternative scenarios, acknowledging the evolving global economic landscape.

The president underscored the importance of tangible results, stating that the work of ministers and regional governors is meaningless if it does not enhance people's quality of life or simplify business operations. He warned that those failing to meet their targets would not remain in their positions. Earlier, the Ministry of Economy and Finance had revised its 2026 economic growth forecast upward to 8.1% from 6.6%, projecting GDP to reach approximately $180 billion with inflation at 6.5%.

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If the work of a minister or regional hokim (governor) did not improve people’s quality of life or make it easier for businesses to operate, then the reported achievements remained nothing more than “figures on paper”.