We maintain our forecast of 5.9% GDP growth for Uzbekistan this year and expect growth to slow only marginally to 5.8% in 2026. We think activity will remain supported by strong exports and robust domestic consumption. Ongoing structural reforms and solid domestic demand will keep the rate of expansion above 5% in the near term. High reform potential, liberalisation of trade and regulations in line with the commitment to the goal of World Trade Organisation accession by 2026, and favourable demographics suggest growth will remain robust in the long term.
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