According to data from the State Statistics Committee of the Republic of Uzbekistan, the country's gross domestic product (GDP) grew by 5.8% in the first quarter of 2024. This figure is slightly lower than the same period last year but aligns with the government's target range of 5.5-6%.

Economic growth was primarily observed in industry and construction, which saw increases of 6.2% and 7.1%, respectively. However, the agricultural sector showed limited results with only a 3.5% growth, reflecting difficulties it faces due to climatic conditions and resource issues.

Deputy Chairman of the State Statistics Committee Alisher Ganiyev stated at a press conference: "We continue to encourage diversification and investments to ensure sustainable economic development. Nevertheless, global economic uncertainty and domestic inflationary pressure remain significant challenges." This statement acknowledges future hurdles despite positive outcomes.

Analysts note that while growth rates are stable, the country needs to focus on long-term issues such as energy and transport infrastructure, as well as attracting foreign investment. The government's economic reforms are yielding results to some extent, but their full impact is not yet clear, and societal challenges persist.

Source: uznews.uz