"SHABAB AL-NIL": UZBEKISTAN MEETS THE CHALLENGES OF THE GLOBAL ECONOMIC CRISIS, GROWTH IN GDP OF 8.1% IN THE FIRST HALF OF 2015

Under such headline published an article on the pages of the socio-political newspaper "Shabab al-Nil" (Youth of Egypt), which is dedicated to the achievements of our country in socio-economic sphere.

The author is a correspondent of the weekly publication of the popular scientific magazine "al-Taawun" (Cooperation) publishing complex "Al-Ahram", the director of the electronic portal "Shabab al-Nil" Mahmoud Diyab.

The article notes that in the conditions of crisis and instability in the international markets in Uzbekistan adopted measures allowed in the first half of the year to ensure the growth and macroeconomic stability in the country.

In order to give further impetus to the country carried out a large-scale reforms to strengthen and create a solid foundation for sustainable economic growth in the coming years under the leadership of President Islam Karimov developed and adopted a program of further reform, structural transformation and diversification of the economy in the period of 2015-2019.

The article emphasizes that compared with the first half of 2014 gross domestic product grew by 8.1%, industrial production - by 8.1%, agricultural products - by 6.5%. At the same time further strengthening of macroeconomic stability has been accompanied by a state budget surplus of 0.2% of GDP, a positive trade balance of 83.4 million USD, as well as a consistent decline in the tax burden from 17.7% to 17.4% of GDP.

Strong economic growth boosted domestic total income by 10.8%, which was reflected in the increase in the volume of retail trade turnover by 14.8%.

As reported in the article, in order to stimulate the production of consumer goods from the beginning of the year for the purchase of technological equipment and working capital to enterprises producing similar goods issued loans commercial banks at a rate of more than 2.2 trillion soums, or 1.3 times more than in same period last year. As a result of the production volume in this segment increased by 13.5%, including food - by 21.6%, non-foods - by 8.3%.

As a result, the full support of the development of private enterprise in the first half of this year, the share of small business in the industry reached 31.4% (28.9% in the same period of 2014), the retail trade turnover - 86.3% (85.9%), in paid services - 47.6% (45.2%) and employment - 77.2% (76.8%).

The volume of sales in small businesses through exchange trading increased by 20.7%, and purchased their products - by 17.5%, according to the material"Shabab al-Nil".

The total number of accredited subjects of small business for the supply of their goods and services for public procurement has increased by 2.6 times compared to the same period of 2014, amounting to about 35.6 thousand subjects, or 98.2% of the total number of participants in public procurement. More than 99.5% of the total volume of public procurement, which is carried out by means of electronic trading, has been purchased from small businesses.

During the first half of this year, it created 441,8 thousand jobs, of which 274,9 thousand(62.2%) - in the countryside.

In conclusion, the Egyptian publication emphasizes that the achievements and prospects of development of the Uzbek economy are highly appreciated by international financial institutions. Thus, according to the International Monetary Fund mission, "Uzbekistan’s economy showing resilience in the face of increasingly complex external environment. In 2015, economic growth was expected to remain high due to the adoption of a program of industrial modernization and infrastructure, as well as programs for the privatization and corporate governance".

Jahon Information Agency, Cairo