On November 13, 2025, the Center for Economic Research and Reforms (CERR) hosted the presentation of the World Bank report “Europe and Central Asia Economic Update: Employment and Prosperity.” The report analyzes macroeconomic developments and labor market dynamics, as well as the resilience and adaptability of the region’s economies.
The event brought together representatives of the World Bank, ministries and government agencies, think tanks, and independent experts to discuss key trends, challenges, and prospects for the labor market in the region.
Regional Director of the World Bank for Central Asia, Najy Benhassine, delivered a welcoming speech.
He emphasized that “the entire world, and Central Asia in particular, are facing a tremendous employment challenge. The working-age population in Central Asia is projected to grow significantly over the next 20 years.
Uzbekistan is experiencing confident economic growth driven by the large-scale reforms implemented by the President. These transformative changes have paved the way for the development of the national economy.
As Uzbekistan moves forward, maintaining this momentum is crucial — not only to sustain high growth rates but also to ensure full employment opportunities for the country’s skilled youth.
By focusing on creating jobs that match the skills and ambitions of young people, Uzbekistan is laying the foundation for a prosperous and inclusive future, where every citizen can contribute to and benefit from the nation’s progress.”
Addressing the participants, Deputy Director of the Center for Economic Research and Reforms Nozimjon Ortikov noted that “by combining our efforts and building on research and experience, we can create an economy resilient to global challenges and turn our region into a space of opportunity for all.” He added that in the context of the green economy and artificial intelligence, it is vital to “unite the efforts of government, business, and partners to create inclusive jobs.”
Ivan Torre, Senior Economist at the World Bank for Europe and Central Asia, presented the key findings of the report, highlighting three main directions for action: developing human and physical infrastructure, creating an enabling environment for business, and mobilizing private capital.
The authors of the report stressed that Central Asia continues to hold leading positions in terms of aggregate macroeconomic indicators. The region’s real GDP growth rate is projected to remain around 5% in 2026 and 4.6% in 2027, with Uzbekistan and Kyrgyzstan making the main contribution. Uzbekistan ranks among the top five fastest-growing economies in the region, with GDP growth expected at 6.2% in 2025 and 6% in 2026.
Employment growth in Central Asian countries is concentrated in sectors such as renewable energy and the extraction of rare-earth minerals essential for high technologies. The region’s potential is driven by growing domestic demand for energy, favorable geographic positioning, and the availability of land resources for developing solar and wind power plants.
Employment growth across the region remains moderate but steady. Uzbekistan provides the largest contribution, with a faster pace of job creation relative to GDP growth. Kazakhstan also plays a significant role in driving regional economic expansion, though its impact on employment remains limited. Overall, Central Asia demonstrates positive employment elasticity relative to economic growth, reflecting the region’s ability to translate growth into new jobs.
Participants exchanged views on strategies to enhance employment, attract investment, and strengthen the resilience of regional economies.
In conclusion, experts underscored the importance of regular exchange of analytics and research between national and international institutions.
CERR Public Relations Sector
leave a comment