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Uzbekistan Targets GDP Growth to 400 Trillion Won by 2030
yonhap_finance · 2026-09-01
President Shavkat Mirziyoyev announced plans to double Uzbekistan's GDP to approximately 400 trillion won by 2030, building on recent economic reforms.
What Happened
Ambitious Growth Target: President Shavkat Mirziyoyev of Uzbekistan has announced a strategic goal to double the nation's GDP to approximately 400 trillion won (300 billion USD) by 2030. This target reflects the government's commitment to maintaining the strong economic momentum observed in recent years.
Economic Progress: Under Mirziyoyev's open-market policies, Uzbekistan has seen significant economic expansion, with nominal GDP rising from 72 billion USD in 2017 to 147 billion USD last year. The administration also highlighted a dramatic reduction in the poverty rate, which has fallen from 35% to 4% during this period.
Future Development Strategy: The government has launched national programs across seven key sectors, including education, healthcare, and business rights, to drive development over the next decade. However, analysts note that sustaining this growth will require deeper structural reforms, including the privatization of state-owned enterprises and the promotion of private sector competition.
International Outlook: The IMF projects a 6.8% growth rate for Uzbekistan this year, reflecting confidence in the country's economic trajectory. To achieve its long-term goals, the government is expected to shift its focus from initial reform gains toward enhancing productivity and attracting efficient private investment.