The current growth of the economy of Uzbekistan, it will be at least 5.5 percent

Yesterday, President Shavkat Mirziyoyev chaired a meeting on macroeconomic forecasts for the period until the end of the year and for 2023, reports “Dunyo” IA

According to the press service of the Head of our state, it is expected that despite the difficult situation in the world, according to the results of the current growth of the economy of Uzbekistan, it will be at least 5.5 percent, exports will increase by more than 13 percent and reach $19 billion. In state policy, the issues of increasing employment and improving the living standards of the population remain a priority.

In 2022, 8 trillion UZS were allocated from the budget to improve the infrastructure of mahallas, address issues that have worried the population for many years. Within the framework of Participatory Budgeting, based on proposals received from about 8 million citizens, 2.5 trillion UZS were allocated to projects in mahallas. At the same time, additional revenues to the budget for 16.5 trillion UZS made it possible to allocate more funds to improve the infrastructure of the regions.

It is predicted that in 2023 the gross domestic product will grow by at least 5.3 percent. In the context of the continuing difficult situation in the world, efforts will be concentrated next year on ensuring macroeconomic stability and preventing a sharp rise in inflation.

Measures to develop sectors of the economy and regions, support entrepreneurship, and further improve the lives of the population were defined at the meeting.

In particular, important tasks were set to achieve next year the growth of the industry by 5.1 percent, agriculture by 3.5 percent, and the service sector by 14.1 percent. The possibility of increasing industrial production by 12 trillion UZS due to the identified reserves was also noted. 10 trillion UZS will be allocated for the development of entrepreneurship. It is planned to send 200 trillion UZS of credit funds to the economy through banks and attract $500 million of long-term resources from international financial organizations.

Tasks have been set to increase foreign direct investment and loans by 19 percent, bring them to $10 billion, and launch new large projects worth $8 billion.

In 2023, about 300 large projects worth almost $8 billion will also be launched in the regions. This will increase regional industrial production by 11 percent.

At the meeting, an export plan for industries and regions for 2023 for $18 billion was presented. It is planned to increase regional exports by 60 percent and bring it to almost $10 billion.

The President of Uzbekistan gave instructions to increase exports by 50-60 percent in such industries as electrical engineering, textiles, building materials, the leather and footwear industry, agriculture and pharmaceuticals.
“Dunyo” IA