President orders inflation to be kept within 6–6.5 percent

President Shavkat Mirziyoyev was briefed on measures to ensure projected economic indicators for the first quarter of 2026 and to mitigate the negative impact of instability in global markets on the national economy, the presidential press service reported.

According to the report, in the first two months of the year, industrial output grew by 7.7 percent, services by 15.4 percent, exports reached $3.5 billion, and $8.3 billion in foreign investment was attracted.

Since the beginning of the year, an additional 2.3 trillion soums and $500 million have been allocated from the state budget for the socio-economic development of nine regions. Local budgets have also been given 3.9 trillion soums for 33 districts and 330 mahallas granted the “New Uzbekistan Image” status. A total of 3.9 trillion soums, along with 1.3 trillion soums from local budgets, has been allocated to 37 disadvantaged districts and 903 mahallas, while 1 trillion soums has been provided at the first stage for 283 “driver” projects.

By the end of the year, 1.2 trillion soums will be directed to infrastructure projects on busy streets, embankments and roadsides, 450 billion soums to improve infrastructure in 150 mahallas with high tourism potential, and 150 billion soums to establish 50 micro-industrial centers in 400 mahallas.

At the same time, it was noted that the global situation has changed sharply in a short period, creating additional pressure on the stability of economic sectors, foreign trade corridors and import prices. In such conditions, every sector and regional leader has been instructed to assess the situation in advance and act proactively based on various scenarios.

Special emphasis was placed on keeping inflation within the range of 6–6.5 percent this year as one of the most important tasks.

In particular, it was noted that the sharp rise in global oil prices is affecting transport costs and the cost of petrochemical products, while prices for polyethylene and polypropylene are also increasing. Therefore, officials were tasked with taking urgent measures on the import of key food products, transport and logistics issues, and the use of alternative corridors.

In addition, the importance of resolving entrepreneurs’ problems related to raw materials, markets and credit in advance was emphasized.

It was also noted that one of the main issues raised by exporters is transport and logistics, as disruptions and rising costs in export cargo transportation caused by global developments are creating serious concern.

In this regard, instructions were given to strengthen close cooperation with neighboring countries on transport and trade matters, expand exports of food products by air, and introduce reduced tariffs for entrepreneurs.

The issue of foreign investment was also reviewed in detail. It was noted that the tense international situation could affect the implementation of some projects. Therefore, officials were instructed to regularly analyze each ongoing project and maintain daily communication with investors.

The dynamics of loans being allocated to support business in the banking and financial sector were also considered.

The head of state stressed that despite the positive current figures, no official should become complacent. In the current difficult environment, it is necessary to foresee risks in advance, work with clear plans to mitigate them, and find prompt solutions to problems in sectors and regions without waiting for them to escalate.

Officials were given specific instructions on curbing inflation, ensuring industrial and export performance, accelerating investment projects, and eliminating problems in the banking system and construction programs.