Tashkent, Uzbekistan (UzDaily.com) – About 57% of enterprises in Uzbekistan believe that the prospects for their business development will improve. Similar estimates indicate optimistic forecasts of the respondents for the next 3 months with a high level of uncertainty regarding external factors affecting business development in the country.

The Center for Economic Research and Reforms (CERR) conducted a November survey of enterprises to assess the business climate in Uzbekistan. The survey involved 1008 enterprises throughout the republic. The experts asked entrepreneurs about the prospects for their business development.

The survey was conducted in two directions:

• qualitative assessment of the current state of the business;

• expectation of entrepreneurs for the next 2-3 months.

Analysis of the state of the business climate in Uzbekistan showed that the indicator of the current state of business was 27 points, which characterizes the moderately positive sentiments of entrepreneurs regarding the current state of their business. In particular, the indicator of the current state in agriculture was 53 points, industry - 15, construction - 29, services - 16, respectively.

Of those interviewed in November 2020 of enterprises, 35% rated the current state of business as "good", 52% - "satisfactory" and 14% - "bad".

Demand for goods / services “improved” was answered by 42% of enterprises, “did not change” - 45%, “worsened” - 14%.

The number of employees “increased” for 17% of enterprises, “did not change” - 71%, “decreased” - 12%.

The indicator of expectations of business development prospects for the next 3 months was 51 points, that is, the expectations of entrepreneurs about the prospects for their business development for the next 3 months are positive.

In particular, the indicator of expectations for the prospects in the field of agriculture was 61 points, industry - 37, construction - 29, services - 60 points, respectively.

Out of 1008 enterprises that took part in the survey, 57% assessed the prospects of their business as "improving", 39% - "will not change" and only 5% believe that it will "get worse."

The analysis revealed that the demand for goods / services will “improve” in 50% of enterprises, “will not change” - 42%, “worsen” - 7%. It is expected that 34% of enterprises will have an “increase” in the number of employees, “will not change” - 62%, “decrease” - 4%.

About 45% believe that the cost of their products “will not change”, 34% answered that they “do not know”, 18% of enterprises expect a “rise” in prices for their goods / services, and only 3% - “will decrease”.

The business climate indicator was 39 points, i.e. the state of the business climate in the country is assessed as good.

The relationship between the values of the current situation and expectations means that the positive trend in economic development will continue in the next 3 months. In particular, the indicator of the business climate in agriculture was 57 points, industry - 26, construction - 29, services - 37 points, respectively.

Assessment of similar indicators of the business climate in November of this year for partner countries is located as follows: Turkey (4) and Russia (-5.7), Eurozone (-0.63), China (2.1), South Korea (-15).