Tashkent, Uzbekistan (UzDaily.com) – The Ministry of Economy and Finance of Uzbekistan has developed the budget strategy for 2025-2027, which has been approved by the Cabinet of Ministers of the Republic of Uzbekistan.

This document contains forecasts of macroeconomic indicators for the near-medium term, main directions of budgetary policy, assessments of budgetary risks, revenue and expenditure forecasts of the consolidated budget of the Republic of Uzbekistan, and other key elements.

In accordance with the "Uzbekistan – 2030" strategy, which aims to implement flexible fiscal and tax policies in response to external and internal impacts to ensure long-term sustainable economic growth, the main goals for the medium and long term are defined as:

• Achieving upper-middle-income country status through sustainable economic growth.
• Maintaining the consolidated budget deficit at no more than 3% of GDP.
• Ensuring that the public debt-to-GDP ratio does not exceed 50%.
• Reducing the share of the "shadow economy."
• Gradually transitioning to "results-oriented budgeting."
• Harmonizing tax and customs legislation, as well as subsidies and benefits provided to various sectors of the economy, with WTO requirements.
• Maintaining the social orientation of public budget expenditures.

Additionally, this budget strategy will serve as the basis for the state budget and budget program for 2025-2027.

The document notes that by 2027, the population of Uzbekistan is expected to reach 39.4 million people.

According to government forecasts, Uzbekistan’s GDP will grow by 6.2% in 2025, 6.4% in 2026, and 6.2-6.4% in 2027.

GDP per capita is expected to increase from US$2698 in 2024 to US$3200 in 2027.

The government anticipates that inflation will decrease from 9% in 2024 to 6% in 2027