The dynamics of infrastructure inve stment in the macroeconomy of Uzbekistan and its impact on GDP growth

Mustafoyev, Kuvonchbek

Иқтисодиёт ва туризм · 2026-yil

Annotatsiya

This article examines the dynamics of infrastructure investment in the macroeconomy ofUzbekistan over the period 2019–2024 and assesses its contribution to gross domestic product(GDP) growth. The study is motivated by the rapid scaling-up of fixed-capital investment in thecountry, the adoption of a dedicated public-private partnership (PPP) framework, and the need toquantify the macroeconomic returns to infrastructure spending. Drawing on official statistics ofthe Statistics Agency of the Republic of Uzbekistan, the World Bank, the Asian DevelopmentBank and the EBRD, the analysis combines descriptive time-series evidence with a multiplierbased estimation of the output response to infrastructure investment. The results show that fixedcapital investment expanded markedly, reaching an estimated 493.7 trillion soums (about US$38.2billion) in 2024, equivalent to roughly one-third of GDP, while real GDP grew by 6.7 per cent inthe same year. Applying internationally documented public-investment multipliers, a fiscalimpulse equal to one per cent of GDP directed to infrastructure is estimated to raise output bybetween 1.1 and 1.6 per cent over a five-year horizon. The paper concludes that infrastructureinvestment—particularly when channelled through transparent PPP mechanisms—constitutes asignificant and durable driver of macroeconomic growth in Uzbekistan, but that its effectivenessis conditioned by investment efficiency, fiscal space and the quality of project selection.

Maqola ma’lumotlari
MualliflarMustafoyev, Kuvonchbek
JurnalИқтисодиёт ва туризм
NashriyotБухоро давлат университети
ISSN2004-2024
Nashr sanasi2026-06-08
Jild3
Son29
TilIngliz
Ilmiy sohaIqtisodiyot
Indeksga qo‘shilgan2026-08-26

Maqolaning asl sahifasi

Kalit so‘zlar

public-private partnership, GDP growth, fixed-capital investment, infrastructure investment

Ilmiy soha

Iqtisodiyot

Iqtibos keltirish

APAMustafoyev, Kuvonchbek (2026). THE DYNAMICS OF INFRASTRUCTURE INVE STMENT IN THE MACROECONOMY OF UZBEKISTAN AND ITS IMPACT ON GDP GROWTH. Иқтисодиёт ва туризм, 3(29). https://interjournal.uz/index.php/journals/article/view/434
GOST (OAK)Mustafoyev, Kuvonchbek THE DYNAMICS OF INFRASTRUCTURE INVE STMENT IN THE MACROECONOMY OF UZBEKISTAN AND ITS IMPACT ON GDP GROWTH // Иқтисодиёт ва туризм. – 2026. – T. 3, № 29.
MLAMustafoyev, Kuvonchbek. “THE DYNAMICS OF INFRASTRUCTURE INVE STMENT IN THE MACROECONOMY OF UZBEKISTAN AND ITS IMPACT ON GDP GROWTH.” Иқтисодиёт ва туризм, 3(29), 2026. https://interjournal.uz/index.php/journals/article/view/434
ChicagoMustafoyev, Kuvonchbek. “THE DYNAMICS OF INFRASTRUCTURE INVE STMENT IN THE MACROECONOMY OF UZBEKISTAN AND ITS IMPACT ON GDP GROWTH.” Иқтисодиёт ва туризм, 3(29) (2026). https://interjournal.uz/index.php/journals/article/view/434
HarvardMustafoyev, Kuvonchbek (2026) ‘THE DYNAMICS OF INFRASTRUCTURE INVE STMENT IN THE MACROECONOMY OF UZBEKISTAN AND ITS IMPACT ON GDP GROWTH’, Иқтисодиёт ва туризм, 3(29). https://interjournal.uz/index.php/journals/article/view/434
BibTeX
@article{mustafoyevkuvonchbek2026,
  title = {THE DYNAMICS OF INFRASTRUCTURE INVE STMENT IN THE MACROECONOMY OF UZBEKISTAN AND ITS IMPACT ON GDP GROWTH},
  author = {Mustafoyev, Kuvonchbek},
  journal = {Иқтисодиёт ва туризм},
  year = {2026},
  volume = {3},
  number = {29},
  url = {https://interjournal.uz/index.php/journals/article/view/434}
}

Boshqa maqola uchun iqtibos tayyorlash

Иқтисодиёт ва туризм jurnalidan boshqa maqolalar

Иқтисодиёт ва туризм — barcha maqolalar · 2026-yil arxivi

Mustafoyev, Kuvonchbek — boshqa maqolalari

Iqtisodiyot sohasidagi boshqa maqolalar

Iqtisodiyot sohasidagi OAK jurnallari