President: GDP growth in 2014 expected at 8.1% level
18/01/2014 14:21
President: GDP growth in 2014 expected at 8.1% level
18/01/2014 14:21
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Islam Karimov said at the session of the Cabinet of Ministers of Uzbekistan on 17 January 2014 outlined main tasks and priorities of economic development in 2014.
Uzbek leader said that Uzbekistan’s goals and tasks for 2014 are based on long-term programmes of the country and adopted strategies, directed at ensuring high growth of economy, mobilizing existing reserves and opportunities.
He said that the growth of gross domestic product (GDP) expected at the level of 8.1%, industrial output – 8.3%, agriculture production – 6%, retail trade – 13.9%, market services – 16.2%. Share of services in GDP will reach 55% in 2014.
He said that tax burden will decrease further, in particular, corporate income tax fell from 9% to 8% in 2013, while minimal rate of income tax cut from 8% to 7.5%.
This will help businesses to save over 130 billion soums, which can be directed to increase own turnover, modernization and technological renovation. It will help population to increase income by 90 billion soums, he said.
Uzbek leader recalled that the refinancing rate of the Central Bank of Uzbekistan was reduced from 12% APR to 10% APR from 1 January 2014.
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