Strategy of New Uzbekistan for 2022 - 2026: macroeconomic stability

Strategy of New Uzbekistan for 2022 - 2026: macroeconomic stability

To continue the ongoing reforms in all areas, the draft Development Strategy of "New Uzbekistan" for 2022-2026 and the "road map" for its implementation were presented for public discussion.

The draft Development Strategy is based on the election program of President Shavkat Mirziyoyev and consists of seven priority areas. Moreover, the tasks identified in the speech of the head of state at a joint meeting of the chambers of the Oliy Majlis, dedicated to the inauguration of the newly elected President.

The third direction of the “New Uzbekistan” strategy - (the development of the national economy,ensuring its growth rates) is presented in the infographics of the Center for Economic Research and Reforms.

In particular, GDP per capita is expected to increase 1.6 times over the next five years, and Income per capita will reach 4,000 US dollars by 2030, thanks to which Uzbekistan will be able to join the list of "states with an upper middle income level".

The average annual growth rate of GDP in 2023-2025 will be 6.5 %. The annual growth rate of lending to the economy is planned at 16-18 %.

In the field of ensuring macroeconomic stability, it is planned to reduce the annual inflation rate from 9% in 2022 to 5% by 2023, at the same time, it is planned to decrease the state budget deficit, which from 2023 should not exceed 3% of GDP. A transition to a program budgeting system is also planned. The Civil Budget will be adopted and 5% of the budget of each district will be directed to solving urgent issues, based on the proposals of the population. 50% of the funds allocated for the repair of internal roads will be distributed on the basis of public opinion.

The amount of annual external borrowings will not exceed 4.5 billion US dollars. At the same time, the national debt will remain below 60% of GDP.

The discussion of the Development Strategy of «New Uzbekistan» for 2022-2026 will last until 15 January 2022.

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