Tashkent, Uzbekistan (UzDaily.com) — The government of Uzbekistan forecasts a growth in gross domestic product (GDP) of 6% for 2025, according to a statement from the Ministry of Economy and Finance.

This growth will be driven by increases in production across various sectors: industry is expected to grow by 6.1%, agriculture by 4.1%, and the services market by 14.5%.

The Ministry of Economy and Finance has published the budget message for 2025.

To achieve these targets, the implementation of structural reforms in each sector will continue. An important task for the government will be to keep the consolidated budget deficit at no more than 3% of GDP from 2025 to 2027, while maintaining the main tax rates unchanged for the medium term.

To expand the revenue base of the budget, it is planned to review and gradually eliminate existing tax and customs benefits based on their effectiveness. Uzbekistan will also adapt its tax and budget policies in accordance with the requirements of the World Trade Organization.

The ministry emphasized that one of the priorities is to prevent the government debt from exceeding 60% of GDP, aiming to keep it below 50% in the medium term. It is also important that the levels of salaries and pensions increase at least in line with inflation.

For 2025, government budget revenues are planned to be 308.5 trillion soums, while expenditures will amount to 344.6 trillion soums. Additionally, revenues from targeted funds will be 66.5 trillion soums, with expenditures of 117.2 trillion soums, including transfers from the national budget totaling 54.4 trillion soums.

The expected deficit of the government budget and targeted funds will be 32.4 trillion soums, which corresponds to 2% of the projected GDP. This deficit will be covered through domestic and external debts, funds from privatization, and other sources. Interbudget transfers from the national budget to the budgets of Karakalpakstan, regions, and Tashkent will amount to 18.4 trillion soums.

A limit on attracting external debt has also been set at US$5.5 billion, of which US$3 billion is allocated for budget support and US$2.5 billion for investment projects. The maximum volume of government securities will amount to 30 trillion soums to diversify government debt and reduce currency risks. For projects under public-private partnerships, a limit of US$6.5 billion has been established.