TASHKENT, Uzbekistan, October 28. Uzbekistan has set its sights on the prize of 6.6 percent economic growth by 2026, aiming to push its GDP past the $150 billion mark, and the plan is to funnel at least 400 trillion soums ($31.5 billion) into the economy from every nook and cranny, all while keeping inflation under the seven percent ceiling, Trend reports, citing the Uzbek president's office.
These figures were announced during an extended government meeting chaired by President Shavkat Mirziyoyev, which outlined the main economic objectives for 2026.
President Mirziyoyev emphasized that all necessary conditions and opportunities are in place to achieve these ambitious goals. At the same time, he identified several priority issues requiring heightened attention from the heads of ministries, industries, and regional administrations.
According to the draft state budget for 2026, current tax rates will remain unchanged. Under these conditions, the president stressed the need to consistently increase budget revenues and ensure strict control over the effective and transparent use of public funds.
He underscored that cost reduction and efficiency improvement will be the main performance criteria for managers at all levels in the coming year. Specific instructions were issued to lower production costs and enhance competitiveness in strategic sectors, expand private sector participation, streamline the dividend policies of state-owned enterprises, and review subsidies and benefits—canceling those deemed ineffective.
Particular attention was also given to reducing the share of the shadow economy and strengthening the revenue base of local budgets in districts and cities. The president instructed officials to accelerate the implementation of projects financed through international financial institutions and to adopt a “completion-first” principle—ensuring new projects begin only after current ones are finalized.
Additionally, it was ordered that half of the remaining balances of extrabudgetary funds of ministries and departments be transferred to a special fund to support the construction of schools and the development of healthcare infrastructure.
Subsequent to the convening, the primary focal points for the 2026 State Budget were distinctly articulated, underscoring the administration's dedication to sustainable, inclusive, and efficiency-oriented advancement.
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