BAKU, Azerbaijan, July 21. Uzbekistan's economy expanded by 8.5% in the first half of 2026, driven by robust growth in services, construction and industry, President Shavkat Mirziyoyev said as he chaired a government meeting reviewing the country's economic performance and priorities for the remainder of the year.
This was reflected in the statement published by the official channel of the Press Secretary to the President of the Republic of Uzbekistan.
Opening the videoconference meeting, Mirziyoyev instructed ministers and regional officials to move beyond reporting results and instead present concrete plans for unlocking additional sources of growth amid an evolving global economic environment.
"The officials who speak today should not limit themselves to reporting on what has been achieved," Mirziyoyev said. "They must clearly explain what new reserves they have identified, what mechanisms they are putting in place to utilize them, and what results they expect to achieve by the end of the year."
He also stressed that government leaders should prepare contingency plans to respond to changes in the global economy.
"In today's rapidly changing global environment, every leader must work with additional scenarios," the president said.
According to Mirziyoyev, Uzbekistan's industrial output increased by 8% during the first six months of the year, while the services sector grew 16.9%, construction expanded 13.8%, and agriculture recorded 4.7% growth.
The president said the country attracted $28 billion in investment during the reporting period, while exports reached $14.4 billion, underscoring continued momentum in Uzbekistan's efforts to expand production and strengthen its position in international markets.
Mirziyoyev also highlighted recent upgrades to Uzbekistan's sovereign credit rating by international agencies Fitch Ratings and Moody's Ratings, saying the improved assessments reflect growing confidence in the country's economic reforms and macroeconomic stability.
Despite the strong performance, the president said the current pace of growth is not sufficient to meet the country's long-term development goals.
"To improve the lives of a population of 40 million people, we need economic growth of 9-10%," Mirziyoyev said.
The meeting focused on assessing progress made during the first half of the year and identifying additional measures to sustain economic momentum through the end of 2026. The government's emphasis on higher growth comes as Uzbekistan continues implementing structural reforms aimed at attracting foreign investment, expanding exports, improving productivity and maintaining strong economic performance despite an uncertain global environment.
