Uzbekistan’s GDP Grows by 6.4% in First Half of 2024
In the first half of 2024, Uzbekistan's gross domestic product (GDP) grew by 6.4%. Industry increased by 7.8%, construction by 10.1%, services by 12.9%, and agriculture by 3.8%. Budget revenues reached 113 trillion soums, a 14% rise. The added value created in the republic reached 567.4 trillion soums, or $45.1 billion, a record high.
These statistics were shared during a video conference led by President of Uzbekistan Shavkat Mirziyoyev, focusing on economic growth and future priorities, as reported by the President’s press service.
In the same period, total capital investments amounted to 229 trillion soums, with $15.5 billion from foreign investors. Notable investments exceeded $100 million in regions like Andijan and cities like Namangan and Samarkand, and over $70 million in districts such as Sharaf-Rashidovsky and Akhangaran.
Since January, 3,000 projects worth $3.5 billion have started, creating 76,000 high-paying permanent jobs. Entrepreneurs received 82 trillion soums in loans and 15.5 trillion soums in subsidies, involving 600,000 people in business. Due to tax benefits, entrepreneurs retained 56.3 trillion soums.
Green energy reforms have begun to yield results, with 10 new solar and wind power plants generating 1.6 billion kilowatt-hours of “green” energy, saving 500 million cubic meters of gas.
Additionally, 31.5 trillion soums were allocated for improving local communities, infrastructure in kindergartens, schools, healthcare, roads, and utilities. An extra 1.5 trillion soums will be provided. Over the past six months, 18,600 new housing units were built, with about 7 trillion soums in mortgage loans granted to 26,000 families. To assist with down payments and interest, 545 billion soums in subsidies were allocated.
