Uzbekistan M2 Money Supply Growth
Broad money growth (annual %) FM.LBL.BMNY.ZG
Uzbekistan's m2 money supply growth was 26.58% in 2025, ranked 13th globally. This represents a 13.2% decrease from 2024. Data from World Bank, covering 2014–2025.
Overview
Uzbekistan's m2 money supply growth stood at 26.58% in 2025, a decline of +4.06pp from 2024. Based on recent trends, this figure is projected to reach 26.58% by 2025. Uzbekistan ranked 13th globally.
Uzbekistan’s M2 money supply grew by 26.58 % in 2025, placing the country 13th among the world’s economies and slightly above its peer Mongolia’s 25.79 % growth rate. The expansion follows a pronounced swing from the all‑time trough of 12.16 % recorded in 2023 to a peak of 40.21 % in 2017, indicating that the post‑pandemic recovery has reignited credit growth after a period of contraction. Over the 12‑year span from 2014, when the supply rose 15.74 %, the average pace has accelerated, reflecting the government’s fiscal stimulus, liberalised banking reforms and increased foreign‑direct investment inflows. The trajectory mirrors that of other emerging markets such as Egypt, whose 30.53 % growth underscores a regional pattern of monetary expansion to support economic reopening. If inflationary pressures intensify or the central bank tightens policy, the upward momentum could moderate; otherwise, continued fiscal support may sustain the current high‑growth path.
Data & projection
| Year | M2 Money Supply Growth | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 28.25% | - | - |
| 2026* trend | 27.42% | - | - |
| 2025* trend | 26.58% | - | - |
| 2025 | 26.58% | −4.06pp | #13 |
| 2024 | 30.64% | +18.47pp | #86 |
| 2023 | 12.16% | −18.01pp | #91 |
| 2022 | 30.17% | +0.50pp | #119 |
| 2021 | 29.68% | +11.98pp | #130 |
| 2020 | 17.70% | +3.82pp | #105 |
| 2019 | 13.88% | −0.24pp | #126 |
| 2018 | 14.12% | −26.08pp | #128 |
| 2017 | 40.21% | +16.71pp | #151 |
| 2016 | 23.50% | −0.79pp | #145 |
| 2015 | 24.29% | +8.55pp | #144 |
| 2014 | 15.74% | – | #131 |
Detected Pattern
Analysis
Uzbekistan matched the Orthodox Tightening Cycle pattern in 2018. Historically, 57% of countries showing this pattern (177 out of 311) saw m2 money supply growth improve within 24 months. View full analysis →
Frequently Asked Questions
Uzbekistan's m2 money supply growth was 26.58% in 2025. Ranked 13th globally. This represents a 13.2% decrease from the previous year.
Uzbekistan's m2 money supply growth peaked at 40.21% in 2017.
The lowest m2 money supply growth in Uzbekistan was 12.16% in 2023.
Uzbekistan ranks 13th globally in m2 money supply growth as of 2025.
The World Bank indicator code is FM.LBL.BMNY.ZG. Data sourced from World Bank.
Uzbekistan's m2 money supply growth is projected to reach 26.58% by 2025 based on trend extrapolation.
The m2 money supply growth of Uzbekistan in 2025 was 26.58%. This ranks 13th in the world.
Cite this page
@misc{historysaid_uzbekistan_m2-growth,
title = {Uzbekistan M2 Money Supply Growth},
url = {https://historysaid.com/uzbekistan/m2-growth/},
publisher = {HistorySaid},
year = {2026}
}