The Cabinet of Ministers of Uzbekistan held a session on 13 February
to consider the results of the country’s socioeconomic development in
2008. President Islam Karimov participated in the session and made a
report.
Last year, the country saw high and stable economic
growth rates and macroeconomic stability, achieved thanks to consistent
implementation of the socioeconomic development program, the head of
the state said.
Positive results are seen in solving
long-term tasks to cardinally diversify and modernize the economy, as
well as increase the employment levels and improve the people’s
well-being, Islam Karimov noted.
The country’s GDP
increased by 9% last year, industrial production grew by 12.7%,
agricultural production by 4.5%, construction works by 8.3% and service
sector by 21.3%. The state budget was implemented with a surplus and
the inflation rate was within the forecast.
The active
investment policy allowed to increase the volume of investments in the
main capital by 28.3%, including foreign direct investments and credits
by 71.2%. The country managed to significantly reduce or completely
stop dependence on imports of many types of industrial products.
The small business and private entrepreneurship continued showing dynamic growth, with the SME’s share in the country’s GDP reaching 48.2% and service sector approaching 45.3%.
The foreign trade continued to diversify, and foreign trade surplus increased 1.8 times last year.
The
cumulative capital of the banks increased by 40% compared to 2007,
while the population’s deposits in banks increased by 65.3%.
In
the framework of the state program Year of Youth, measures to support
the young people, create new workplaces, improve living conditions and
increase the quality of education worth UZS 1.363 trillion were implemented.
In
order to neutralize the consequences of the world financial crisis, the
country has been implementing the special program, aimed at supporting
the basic sectors, increasing the banks’ capitalization, developing
industrial and social infrastructure and creation of new workplaces. Source of information: http://www.uza.uz
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