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NEWS AND EVENTS
October 30, 2012
Reviewing Socioeconomic Development
The Uzbek government summed up socioeconomic development of the country for nine months of 2012. The GDP growth made up 8.2% Cabinet of Ministers convened for a meeting to consider and analyze the outcomes of the work on ensuring the estimated macroeconomic indicators of development of the country, enhancement of competitiveness of the country’s economy, primarily through deepening of structural reforms and diversification of the economy, drastic expansion of the investment processes on the upgrade, technical and technological extension of production, and advanced development of transport and engineering infrastructure, raise of employment, level and quality of life of the population.

During the first nine months of 2012, the 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 estimated parameters.

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

Improvement of business environment contributed to the establishment of 18,400 new small and private businesses for nine months of 2012.

The share of small and private businesses grew up to 51%.

When discussing the issues on the agenda they scrutinized the effectiveness of the measures on deepening the processes of structural change in the industry. As a result of the systematic implementation of comprehensive programs on development of manufacture, expansion of production and introduction of new types of competitive products for the nine months of 2012 the production of consumer goods increased by 7.5%, localized products - 25.2%.

Manufacture of 957 new types of localized products was launched. The total volume of produced localized goods reached 6.2 trillion soums, of which the goods valued at $ 840 million were exported.

The participants thoroughly analyzed the course of implementation of the Investment Program for 2012, and worked out some additional measures to catalyze the implementation of investment projects on the upgrade, technical and technological renewal of manufactures, and expansion of the scale of direct foreign investment. It was underlined that the measures taken have ensured the increase of the scope of drawn investments by 9.8% in nine months of 2012, including foreign investments - by 9.6%. About 882 new production entities were launched. 106 investment projects were completed.

Experts critically reviewed the implementation of adopted programs on accelerated development of transportation, engineering and communication infrastructure, and construction of individual standard design housing in rural areas. It was noted that reconstruction and construction works were completed in 303 km of the Uzbek national highway for the first nine months of 2012. Besides, some 73 km of optic fiber cable was laid from Jizzakh to Bulungur.

The timely fulfillment of the whole range of agrotechnical measures, rational use of irrigation water, and the skills of rural workers helped to grow the rich yield of agricultural products, including almost 7.2 million tones of grain crops and 3.4 million tones of raw cotton.

The course of implementation of the national program the Year of Family and the outcomes of measures on further raise of employment, especially among the young graduates of vocational colleges on their specialization were discussed at the meeting as well. Over two trillion soums was allocated to finance the implementation of different projects under the program.

The consistent implementation of systemic and targeted measures for the nine months of this year 773,000 new jobs were created throughout the country, with more than 486,000, or 62.9 percent of them in rural areas. (Source: Uzbekistan Today newspaper)


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