Uzbekistan’s economy to grow by 9% in 2010 – ADB chief

Tashkent, Uzbekistan (UzDaily.com) -- Economy of Uzbekistan will grow by 9% in 2010, President of the Asian Development Bank (ADB) Haruhiko Kuroda stated at the press conference in Tashkent on Tuesday.

He said Uzbekistan sustainable goes through this crisis. The growth of economy of Uzbekistan made up 8% in 2009, which is one of the highest figures among Asian-Pacific states, he said. It is expected that Uzbekistan’s economy will grow by 9% in 2010, Kuroda said.

He explained his forecast with high diversification of Uzbekistan’s economy and strong mining, agriculture, industry and service sectors.

ADB President underlined impact of the crisis to financial sector of Uzbekistan was minimal due to measures, undertaken by the Government.

Haruhiko Kuroda said that the Government of Uzbekistan also introduced several measures on support of small and medium business, speed up investments in development of infrastructure and compensated external demand with the growth of internal one in proper time.

Mr. Kuroda was in Uzbekistan as part of final preparations for ADB’s 43rd Annual Meeting, which takes place in Tashkent from 1-4 May. Early on Tuesday, Mr. Kuroda visited the Annual Meeting venues including the International Forums Palace "Uzbekistan", Uzexpocentre Complex, and the International Trade Center and met with senior Uzbekistan government officials including President of Uzbekistan, Islam Karimov and First Deputy Prime Minister, Rustam Azimov.

Around 3,000 delegates - including government leaders, central bank governors and finance ministers as well as representatives from academia, the media and civil society groups - are expected to attend the meeting. The 2010 gathering marks the first time the ADB has held its Annual Meeting in Central Asia.

At the Annual Meeting, ADB officials, government leaders and private sector experts will participate in a series of seminars dedicated to key issues such as ADB’s role in a new post-2012 financial architecture designed to combat climate change; reform of the global monetary system; and inclusive growth through social protection.

ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. Uzbekistan joined ADB in 1995 and since that time has received 30 ADB loans totaling US$1.29 billion and technical assistance of US$40.75 million.