Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan’s economy is expected to grow by 6.5% in 2025, according to the updated macroeconomic forecast released by the Eurasian Development Bank (EDB).

The bank’s experts highlight that this growth will be primarily driven by rising household incomes and robust investment activity aimed at promoting sustainable development.

The EDB’s medium-term outlook remains optimistic as well, projecting GDP growth of 6.3% in 2026 and 6.4% in 2027. Analysts note that this trend reflects the positive impact of earlier structural reforms and the gradual strengthening of macroeconomic stability.

The report also includes inflation forecasts. Inflation is expected to slow to 8.1% in 2025, supported by the continuation of a moderate monetary policy. In the following years, inflation is projected to decrease further — to 6.8% in 2026 and 5.4% in 2027.

As for the exchange rate, the EDB estimates that the average annual exchange rate of the Uzbek soum will be around 13,200 soums per US dollar in 2025. Analysts believe this will be supported by increased remittance inflows and stable growth in export volumes.

In April 2025, President Shavkat Mirziyoyev signed a law approving Uzbekistan’s accession to the Agreement on the Establishment of the EDB. The law had been passed by the Legislative Chamber of the Oliy Majlis in January and approved by the Senate in March.

With its accession, Uzbekistan becomes the seventh member of the EDB and its third-largest shareholder, holding a 10% equity stake in the Bank.