(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, October 17. The International Monetary Fund (IMF) has upgraded its forecast for Uzbekistan's real GDP growth in 2025 to 6.8 percent, up from the 5.9 percent projected in its April outlook, Trend reports.

For the fiscal year 2026, the International Monetary Fund anticipates Uzbekistan's gross domestic product expansion to achieve a rate of 6.0 percent, marginally surpassing the earlier projection of 5.8 percent.

Uzbekistan's trajectory for economic expansion markedly surpasses the regional benchmark for the Middle East and Central Asia, with projections indicating a growth rate of 3.5 percent in 2025 and 3.8 percent in 2026.

In the fiscal year 2024, the national GDP reached an impressive $115 billion, exhibiting a vigorous growth trajectory of 6.5 percent.

According to IMF experts, rising administered energy prices have contributed to inflationary pressures, pushing inflation close to double digits. In response, Uzbekistan's monetary policy remains tight, with the central bank maintaining a restrictive stance to manage inflation and stabilize the economy.

The IMF also noted challenges in Uzbekistan's tax system, where revenues-particularly from value-added tax (VAT)-have fallen short of expectations. This shortfall has been exacerbated by low tax compliance and an increase in tax incentives, especially in the rapidly expanding services sector.

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