Uzbekistan to increase share of services in GDP to 55% in 2016

Uzbekistan pays attention to development of service sector. Currently, the service sector is one of important sectors of national economy. The main factor of the growth was creation of new enterprises in service sector, including in rural areas. The service sector plays a key role in improving well-being of population.

The presidential resolution “On additional measures on speeding up development of services in Uzbekistan till 2010” from 21 May 2007 helped to boost service sector in the country. In 1990-2010, the volume of realized services increased 2.4 times. In 1990, the share of services in GDP was 33.8%, which rose to 49% in 2010. In the first half of 2013, its share reached 52.2% in the first half of 2012 and 52.4% in the first half of 2013.

In the first half of 2013, the volume of rendered services made up 1.815 trillion soums (+24%) and services, rendered to population, - 1.168 trillion soums (+24.8%).

Adoption of the programme on development of services in Uzbekistan for 2012-2016 became another step in developing the sector. Within the programme, it is planned to increase share of service in GDP to 55%. It is planned to increase the volume of ICT, financial and construction services by 2.2 times.

The programme stipulates measures on allocation of loans to the businesses. So far, some 13 billion soums of Microcreditbank’s resources were directed to create and develop services and infrastructure. Oveall, Microcreditbank will issue 189.9 billion soums of loans within the programme. The loans are directed at creation of new service objects, their re-equipment, etc.