Macroeconomic Determinants of Economic Growth in Uzbekistan: An Empirical Analysis

Gross domestic product (GDP) is one of the most important indicators used to assess a country’s economic performance and overall macroeconomic conditions. Macroeconomic indicators play a significant role in analyzing national economic development and identifying the factors that influence economic growth. This study examines the relationship between four macroeconomic variables – gross domestic savings, unemployment, population growth, inflation – and GDP growth in Uzbekistan. Using annual data covering the period from 1991 to 2025, the study applies multiple linear regression to evaluate the relationship between these variables and GDP growth. The findings will provide insights into the macroeconomic factors associated with Uzbekistan’s economic performance and contribute to a better understanding of the determinants of its economic growth. The results of this study reveal that gross domestic savings has a positive relationship with GDP growth in Uzbekistan, while unemployment, population growth and inflation exhibit negative relationship with GDP growth (see estimated regression model). According to the findings of this study, policymakers should focus on promoting domestic savings, reducing unemployment, managing inflation and supporting sustainable population growth to foster sustained economic development in Uzbekistan.