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People of Uzbekistan. People in Uzbekistan are known for their hospitality, friendly and peaceful nature. The people of Uzbekistan belong to diverse categories and ethnic races. The rich and varied history of Uzbekistan have made the customs and traditions of the Uzbek people more colorful. The population of Uzbekistan comprises the ethnic groups of Uzbeks, Karakalpaks, Russians, Tajiks, Kazakhs, Tatars and many others.
Uzbekistan experienced galloping inflation of around 1000% per year immediately after independence (1992â1994). Stabilization efforts implemented with active guidance from the International Monetary Fund rapidly paid off, as inflation rates were brought down to 50% in 1997 and then to 22% in 2002.zbekistan's GDP, like that of all CIS countries, declined during the first years of transition and then recovered after 1995, as the cumulative effect of policy reforms began to be felt. It has shown robust growth, rising by 4% per year between 1998 and 2003, and accelerating thereafter to 7%-8% per year.