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PRESS RELEASE on the session of the Cabinet of Ministers of the Republic of Uzbekistan

04-30-2007 12:15 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Embassy of Uzbekistan in Berlin

/ PR Agency: Pressservice of the Embassy of Usbekistan
The session of the Cabinet of Ministers of the Republic of Uzbekistan took place in Tashkent. The session saw the discussion of outcomes of the social and economic development of the country in the first quarter 2007 and the measures on unconditional implementation of the most important priorities of economic program for this year. The Prime Minister of the Republic of Uzbekistan Shavkat Mirziyoev has presided over the session.

The session has underscored that the implementation of the most important priorities of the 2007 economic program defined in the address by head of the state at the government session February 12, 2007 including the modernization, technical and technological renewal of the production, further liberalization of the tax policies, support of the accelerated development of the small and private entrepreneurship, as well as comprehensive consolidation of efforts on attracting the direct foreign investments provided for the positive structural changes in economy and achievement of high indicators of the macroeconomic and sector-based growth.

Thus, in the first quarter this year the GDP growth has accounted for 9,1%. The volume of the industrial production grew by 12%, the agricultural products – by 5,5%, construction – by 12,8%, retail trade – by 16,5% and paid services – by 25%. The state budget has been fulfilled with a surplus of 1,7%. The inflation rate has accounted for 2,9%, thus having not increased the forecast parameters. The foreign trade turnover grows stably with high rates, while the export indicators increased by 21,1% and the positive balance of the foreign trade has accounted for about 600 million US dollars.

The session has also noted that compare to the same period last year the volume of the mastered investments increased by 36,4%. The direct foreign investments grew by 47% and own investments by the companies – by 16%.

During the 2007 first quarter 43 large infrastructure and producing facilities have been commissioned. Seven new textile enterprises and other construction materials manufacturing facilities started their operations. The Tashguzar-Dekhkanabad section along the new railroad line of Tashguzar-Boysun-Kumkurghan and other were also commissioned. In the 2007 first quarter the country has intensively continued to reform the agriculture. Thus, 329 agricultural shirkats (cooperative entities) have been transformed into 25,2 thousand farms.

The comprehensive support of the small business and entrepreneurship has resulted in the high growth rates of the production of goods in this sector of economy, as well as the increase of the share of small business in the GDP up to 33,2%. As an outcome of implementation of the complex programs on development of services, animal husbandry, and home-based labor nearly 150,000 new jobs were created in the country during the 2007 first quarter. As a whole, the share of services in the GDP increased up to 43,5%.

Within the framework of the “Year of Social Protection” 13,8 thousand less well-off and large families have received a free cattle worth more than UZS 5,5 billion. 3,4 thousand less well-off families received micro loans worth UZS 2,9 billion through the Employment Assistance Fund. More than 1500 new jobs were created for the disabled, including 1160 – by way of establishing the home-based labor. Besides, 26,000 lonely and 121,000 less well-off families received the sponsorship material aid.

On the outcomes of the agenda discussions the session adopted the relevant resolutions.

The Embassy of Uzbekistan
Perleberger Str. 62
10559 Berlin
Phone: 030 39 40 98 13
Fax: 030 39 40 98 62

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