Uzbekistan’s economy grows by 7.8% in 2016

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.