Uzbekistan's development model at a new stage of economic progress

Abstract

This article provides a scientific-theoretical analysis of the transition of Uzbekistan's economy to a new stage of development in 2025-2026, the structural transformations of its development model, and its strategic priorities. The study demonstrates that as a result of large-scale reforms implemented since 2017, the country's economy has transitioned from a closed state-controlled model to an open, competitive model based on market mechanisms, the private sector, and foreign investments. The new development model announced by the President in 2026 envisages shifting the economy toward technological and innovative growth, qualitatively renewing investment policy, transforming local communities into active subjects of economic development, and prioritizing human capital as a strategic direction. According to forecasts of international financial institutions, Uzbekistan will maintain sustainable economic growth at 6.7-6.8 percent in 2026-2027. The study identifies the strengths of the model and existing challenges, and proposes strategic directions for further development.