S&P affirmed Uzbekistan's long- and short-term foreign- and local-currency ratings at BB-/B. The outlook remained Stable.
S&P forecast average real GDP growth of 5.6% for 2024–2027. Gross general government debt was estimated at 39% of GDP in 2024. The agency expected fiscal and current-account deficits to narrow after peaking in 2023.
The decision preserves the sovereign benchmark for Eurobond pricing and corporate rating ceilings; S&P's macro indicators are forecasts and estimates, not realised results.
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