Uzbekistan's GDP could reach $200 billion by 2030.
The Ministry of Economic Development and Finance shared their forecasts regarding GDP and inflation, as well as confirming that the VAT and corporate profit tax will remain unchanged.
https://uznews.uz/posts/771772024-10-21 09:15:11
UzNews.uz
The GDP forecast for Uzbekistan by 2030 has been improved
from $160 billion to $200 billion, and the GDP per capita is expected to rise
from $4000 to $5000. This was announced by
Ilkhom Norkulov, the first deputy minister of economy and finance.
“As one of the priority tasks, the president has set before us the reduction of the state budget deficit to 3% of GDP in the upcoming year, while the inflation rate should not exceed 7%. Gradually, by 2026, inflation should be maintained at 5−6%, and from 2027 onwards — 5% and below,” Ilkhom Norkulov stated.
According to him, considering that the GDP has gradually increased to $100 billion, this year the figure is expected to be around $110 billion, with a projected GDP of $200 billion by 2030.
Ilkhom Norkulov also mentioned that the president has instructed the development of a new program, taking into account the vast opportunities for localization in major industries such as copper and gold production, metal processing, and others.
Deputy Minister of Economy and Finance Akhadbek Khaydarov emphasized that the main goal for the next year will be savings and stability. Instructions have been given for the efficient use of every sum of the state budget.
He noted that following the directive from the head of state, one of the criteria for evaluating each head of a government agency will be the consideration of effective budget expenditure.
Akhadbek Khaydarov also discussed the main tax directions for 2025.
“Next year, tax rates for a number of taxes, including VAT, corporate income tax, and others, will remain unchanged. This will serve as a foundation for increasing economic attractiveness for entrepreneurs and investors,” the deputy minister explained.