Economy in Uzbekistan
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AZERBAIJAN, 2016/10/06
Foreign ministers of the five Central Asian nations and the EU discussed the national and prospects of cooperation with a focus on various aspects of economic development, the press service of the Uzbek Foreign Ministry reported.
The ministerial conference “Central Asia-European Union” was held Oct. 4 in Brussels.
Foreign ministers of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan took part in the conference.
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AFGHANISTAN, 2016/01/02
World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.
IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide.
Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
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UZBEKISTAN, 2015/10/26
Uzbekistan's economy has seen a increase in the initial nine months of the current year, supported by the government's industrial development spending.
The country's GDP increased by 8 % over January-September 2015 compared with the same period of 2014, Uzbek Prime Minister Shavkat Mirziyoyev said at an October 19 governmental conference on the country’s socio-economic development for nine months of 2015.
In his opinion, such increase is linked to an increase in industrial production by 7.3 % and a 6.6 % increase in agricultural production over the reported period.
Furthermore, the production volume of consumer goods increased by 10.1 %, retail trade turnover by 15 % and services 12.9 %.
Despite the unfavorable situation in world markets, the measures of boosting the export potential have allowed the economy to maintain a positive foreign trade balance.
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UZBEKISTAN, 2015/09/17
Tashkent hosted a presentation of the 2016-2020 UN Development Action Framework (UNDAF) for Uzbekistan, UN’s office in the country reported.
The five-year program, signed by the Uzbek government and the UN office in the country in June, is consistent with the major development paradigms adopted by the UN.
The document is based on the concept of the country’s socially-oriented development, adopted by the government to build an open democratic constitutional national with a steadily developing economy.
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AFGHANISTAN, 2015/01/20
Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday.
In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.
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UZBEKISTAN, 2015/01/05
Uzbek President Islam Karimov has set the priorities for the country’s development in 2015 in his New Year message.
"Based on our own experiences and the experiences of developed democratic nations, our common goals are to expand the democratic reforms and form a civil society in the country,” the message said. “This has become our development strategy for the coming years."
Karimov noted removing all obstacles and limitations, ensuring complete freedom for the development of private property and private entrepreneurship are of fundamental importance. This comes as an extra key task is to consistently expand the structural reforms in the economy.
Continuous technical and technological renewal, modernization of the production sector and the widespread introduction of modern data and communication systems are as well significant, he stressed.
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UZBEKISTAN, 2014/11/14
The Uzbek Senate (upper home of the parliament) approved the national budget for 2015 with a deficit of about 1.8 trillion UZS, or in the all of 1 % from the projected gross domestic product (GDP).
The revenue of the national budget for 2015 will all to 36.2 trillion UZS (20.2 % of GDP), spending - 38 trillion UZS (21.2 % of GDP).
The budget options were designed to meet the planned next year GDP increase by 8 %, industrial production - by 8.3 %, agricultural production - by 6 %, the volume of capital investments – by 9.6 % and projected inflation at 5.5-6.5 %, said Rustam Azimov, the Initial Vice Prime Minister and Minister of Finance of Uzbekistan.
