Economic system of Uzbekistan grows by 8.1%


The Cupboard of Ministers of the Republic of Uzbekistan held a session, which summed up the socio-economic improvement of the Republic for the primary half of the present yr and developed extra measures for the group of systematic work on the implementation of the adopted applications for additional reform, structural modifications and financial diversification for 2015-2019.

In keeping with particulars, The members extensively mentioned and analyzed intimately the primary macroeconomic indicators of the nation’s improvement and the outcomes of the work to make sure the unconditional implementation of the key instructions and priorities of financial program for 2015, outlined by the President of the Republic of Uzbekistan Islam Karimov on the session of the Authorities of the Republic on January 16, 2015.They embrace rising the manufacturing and export potential of industries and territories of the Republic, the implementation of lively funding coverage, attraction of international funding to the implementation of strategic funding tasks, the deepening of manufacturing localization and the growth of inter-sectoral industrial cooperation, in addition to rising employment, the extent and high quality of lifetime of the inhabitants.

As was famous, resulting from systematic and constant implementation of the adopted within the nation improvement technique and modernization of the economic system, guaranteeing its diversification and competitiveness, regardless of ongoing world economic system disaster and the slowdown in its improvement, Uzbekistan has achieved excessive charges of financial development and the strengthening of macroeconomic stability. It was confused that the achievements and prospects of improvement of the economic system are extremely appreciated by worldwide monetary establishments. Particularly, the assertion of the top of the IMF mission that visited the nation in April-Could of 2015 notes that “…the Uzbek economic system is exhibiting stability on the background of an more and more difficult exterior surroundings… In 2015 financial development is predicted to stay excessive as a result of not too long ago adopted programme of modernization of business and infrastructure, in addition to applications on privatization and company governance”.

Within the first half of this yr the expansion of the gross home product amounted to
8.1 p.c, the quantity of commercial manufacturing additionally grew by 8.1 p.c. Development of exports grew by 7.4% and a constructive international commerce stability was offered. The state finances was executed with a surplus. The inflation price didn’t exceed the forecast parameters.

Focused measures to radically enhance manufacturing of shopper items, accelerated improvement of service sphere, a balanced stimulation of home demand offered the expansion of the manufacturing of shopper items by 13.5%, retail turnover – by 14.8% and companies – by 13.1%.

Because of the carried out system measures on employment of the inhabitants,
441,Eight hundreds of latest jobs, of which 274,9 thousand, or 62.2 per cent in rural areas had been created within the reporting interval.

The continued implementation of lively funding coverage and measures on modernization, technical and technological upgrading of industries and sectors of the economic system, infrastructure improvement facilitated the expansion of volumes of investments by 9.8%, together with international direct funding and loans by 10.9 p.c. The implementation of 63 funding tasks beneath the Funding program for 2015 was accomplished. 1866 manufacturing amenities had been commissioned. Industrial manufacturing of 585 new kinds of localized merchandise was mastered. Elevated funding has contributed to development within the quantity of contract development works by 18 p.c.

In the course of the dialogue, the heads of ministries, departments, financial associations, giant enterprises, Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and Tashkent metropolis had been reminded about their private duty for guaranteeing well timed implementation of main strategic funding tasks for the commissioning of a contemporary high-tech manufacturing amenities and objects. They had been entrusted concrete targets for the implementation of extra measures to deal with the admitted backlog of particular person tasks and the acceleration of attracting investments within the implementation of promising funding tasks.

The Ministry for international financial relations, investments and commerce, the Ministry of economic system, financial associations, giant enterprises, khokimiyats of the areas, cities and districts entrusted to develop and implement a set of extra measures to make sure the mobilization of the export potential of industries and territories of the Republic, to extend the quantity and broaden the vary of export merchandise, to strengthen the place of home exporters in conventional markets and develop new export markets.

Particular consideration on the assembly was paid to the crucial evaluation of the outcomes of harvesting marketing campaign and improvement of emergency measures to stop the detrimental affect of climate circumstances on yield of cotton and well timed implementation of a posh of agrotechnical measures for its cultivation. As was famous that resulting from taken measures for additional improvement and modernization of the agricultural sector, the complete assist of agricultural producers, the manufacturing quantity of agriculture elevated by 6.5 p.c.

Taking into point out the acute climate circumstances of the present yr, the members ‘ consideration was drawn to the necessity to undertake a posh of pressing measures to cut back the detrimental affect of climate circumstances on agricultural manufacturing, particularly cotton, to make sure the sleek operation of branches of economic system and social sphere.

The heads of the Ministry of agriculture and water assets, related enterprise associations, the Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and districts got particular directions to make sure well timed irrigation of crops, the group of environment friendly built-in safety of cotton crops from pests, in addition to provides of gas and lubricants for conducting agronomic and irrigation and reclamation actions.

Within the centre of consideration of members of the assembly had been the problems of guaranteeing systematic implementation of the permitted by the President of the Republic of Uzbekistan Islam Karimov the key applications of reform, structural reforms, modernization and diversification of the economic system for 2015-2019. Particular consideration was paid to the problems of efficient coordination and the system of group of labor on implementation of program of measures to radically cut back authorities presence within the economic system, rising the function and share of personal possession, strengthen the safety and ensures of entrepreneurship, enhancement of corporatization and company governance, modernization and diversification of commercial manufacturing, improvement of utilities and highway infrastructure.

It was underlined, that profitable implementation of those coverage paperwork constituting the primary content material of the technique for additional reform and modernization of the economic system over the medium time period, will make sure the continued excessive development of the economic system within the coming years, to construct a extra fashionable and diversified financial construction, enhancing its competitiveness. On this regard, the eye of heads of complexes of the Cupboard of Ministers, ministries, departments, financial associations, the Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas, cities and districts was as soon as once more drawn to their private duty for guaranteeing well timed and high quality implementation of actions included within the adopted program for the following 5 years, reaching all goal parameters and indicators.

In the course of the assembly it was determined to ascertain a strict system of coordination and management for the unconditional and full implementation of all factors of the adopted structural adjustment programme for 2015-2019.

Hereby, it was determined to make sure the event and implementation within the shortest potential phrases of automated pc software program for sequential monitoring of all levels of actions of the programme, ranging from the preparatory stage to their full implementation.

The assembly additionally recognized particular ministries and companies, answerable for the implementation of permitted applications and, accordingly, interagency councils and commissions beneath the Authorities, which ought to make sure the coordination and systematic monitoring of progress on a month-to-month foundation.

It was determined that the stories of the members of the Authorities and different accountable individuals on the implementation of the permitted structural adjustment programme for 2015-2019 might be heard on quarterly conferences of the Cupboard of Ministers on persevering with foundation.

Particular consideration on the assembly was paid to a complete evaluation of the effectiveness and effectivity of the work undertaken to make sure the dependable safety of personal property, small enterprise and personal entrepreneurship, offering them with better freedom and elimination of all obstacles and boundaries to their fast improvement. It was famous that taken measures helped to create within the first half of the yr greater than 15.2 hundreds of latest small companies, or 6.three p.c greater than in the identical interval of 2014. The quantity of financial institution loans allotted to small companies reached 6.Four trillion soums, or 1.three occasions extra in comparison with the identical interval final yr. (foreign money charges of CB RU from 17.07.2015   1$= 2565.29    soums )

The heads of administrations of all ranges, related ministries, companies and enterprise associations mandated to implement a set of concrete measures to stimulate and supply full assist to small companies and personal entrepreneurship within the growth of present and institution of latest industries and community infrastructure companies and guaranteeing on this foundation employment, particularly the employment of graduates {of professional} faculties in accordance with their specialties.

It was emphasised that the sensible implementation of the Programme of measures to make sure dependable safety of personal property, small enterprise and personal entrepreneurship, elimination of boundaries to their fast improvement, permitted by the decree of the President of the Republic of Uzbekistan on Could 15, 2015, together with measures to extend the duty of officers for obstruction or illegal interference within the actions of enterprise organizations, liberalization of felony and administrative laws regulating entrepreneurial exercise, additional simplification of registration, permits and licensing procedures, will contribute to the additional improvement of personal property because the dominant type of possession and small enterprise within the nation.

On this regard, the heads of the specifically established working committee, ministries, departments, financial associations mandated to speed up the event of measures stipulated in this system of quite a few draft legal guidelines and different normative authorized acts aimed toward strengthening of the safety of personal property and the strengthening of its precedence, creating essentially the most favorable enterprise surroundings and funding local weather.

Following the dialogue made on the assembly of the Authorities, related choices, which recognized particular measures to make sure the unconditional implementation of the key instructions and priorities of this system of socio-economic improvement of the nation for 2015 had been adopted.

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