Uzbekistan’s economy grows by 7.8% in 2016
15/01/2017 15:10
Uzbekistan’s economy grows by 7.8% in 2016
15/01/2017 15:10
Tashkent, Uzbekistan (UzDaily.com) -- Gross domestic product (GDP) of Uzbekistan grew by 7.8% in 2016, President of Uzbekistan Shavkat Mirziyoyev announced at the expanded session of the Cabinet of Ministers of Uzbekistan on Saturday.
At the session it was noted that the volume of industrial production grew by 6.6%, agriculture output – by 6.8%, construction works – 12.5%, retail trade – 14.4% and services – 12.5%.
State budget was implemented with 0.1% surplus to GDP. The inflation rate did not exceed forecasted parameters. The country ensured positive surplus of foreign trade turnover.
In the reporting period, Uzbekistan used investments for over US$16.6 billion, which grew by 9.6% year-on-year. The volume of used foreign investments and loans grew by 11.3% - to US$3.7 billion.
Uzbekistan completed implementation of 164 large scale investment projects with total cost of US$5.2 billion.
Uzbekistan ensured growth of agriculture production by 6.6%, including production of fruits and vegetables – 11.2%, potatoes – 9.7%, as well as melons and gourds – 10.4%.
About 32,000 new small businesses were registered in Uzbekistan in 2016, which rose by 18% compared to 2015. Share of small businesses in GDP made up 56.9% and industry – 45%.
According to the forecast of Uzbek Government, the country expects 7.8% growth of GDP in 2017, 8% - industrial production, 6.2% - agriculture production and 9.6% - capital investments.
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