On 19 October 2012 the Cabinet of Ministers held a meeting to discuss the results of socio-economic development for the 9 months of the current year in accordance with the priorities of economic program for 2012, set by the President of the Republic of Uzbekistan Islam Karimov at the government meeting on 19 January 2012.

The results of works on ensuring macroeconomic development of the country and improving competitiveness of the economy primarily through deepening of structural reforms and diversification of the economy, radical expansion of the investment processes of modernization, technical and technological renovation of production, as well as advanced development of transport and engineering infrastructure, increasing employment and quality of life of the population was comprehensively considered and deeply analyzed at the meeting.

It was noted that due to consistent and purposeful implementation of the chosen reform and modernization model of the country, built on the evolutionary path of development and five principles, developed by the President of Uzbekistan Islam Karimov, Uzbek economy not only reliably resists negative impact of the ongoing crisis of the global economy, but also preserves macroeconomic stability, sustainable high rates of economic and social development.

During the first 9 months of this year, GDP growth constituted 8.2 percent. Industrial output of the country rose by 7.2%, agricultural production – by 7.1%, construction works – by 9.8%, retail trade turnover – by 12.6% and services – by 13.8%. State budget was executed with a surplus of 0.3% to GDP. Inflation did not exceed the forecast parameters.

As a result of measures taken to support exporters and to further enhance the export potential of industries, total exports increased by 12.4% compared to same period of last year.

Improvement of business environment allowed to create 18,400 new small and private businesses in nine months of 2012. Share of small and private businesses grew up to 51%.

During the discussions of the issues on the agenda a particular attention was paid to the processes of structural change in the industry. As a result of the systematic implementation of the comprehensive program for developing manufacture, expanding production and developing new types of competitive products for the 9 months of this year, high rates of growth of industrial production was maintained. Production of consumer goods increased by 7.5%, localized products – 25.2%. The country launched production of 957 new types of localized products in January-September 2012. Total volume of produced localized goods reached 6.2 trillion soums, of which products for US$840 million were exported.

Implementation of the investment program for 2012 and the development of additional measures to accelerate the implementation of investment projects on modernization, technical and technological renewal of production, increasing foreign direct investment were also considered at the meeting. It was underlined that the volume of used investments grew by 9.8% in nine months of 2012, including foreign investments – by 9.6%. About 882 new production objects were launched. The country completed implementation of 106 investment projects.

The meeting participants critically reviewed the implementation of the adopted programs to accelerate the development of transport and engineering infrastructure, and construction of individual housing on standard projects in rural areas. It was noted that for the first 9 months of this year 303 km of roads, which are part of Uzbekistan national highway, were reconstructed and constructed. Some 73 km of optic fiber cable was laid from Jizzakh to Bulungur.

Thanks to timely fulfillment of entire complex of technical measures, management of irrigation water, and the skill of rural workers, a rich harvest of agricultural products, including almost 7.2 million tons of grain crops and 3.4 million tons of raw cotton was reaped.

The meeting also discussed the implementation of the «Year of the Family\" State program and the results of actions to further increase employment, especially among the young graduates of professional colleges in accordance with their specialization. Over 2 trillion soums were directed to implementation of projects and campaigns of the Programme.

Due to the consistent implementation of systemic and targeted measures for the 9 months of this year 773,000 new jobs were created in the country, with more than 486,000, or 62.9 percent - in rural areas. Reports of the heads of ministries, agencies, regional authorities and business were presented to the meeting participants. Relevant decisions were taken on conclusion of the meeting, which further define additional measures on unconditional implementation of major priorities of social-economic development in 2012 and establishment of reliable guarantees for sustainable economic development in the coming year. (Source: UzA news agency)