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08 February 2013 / 12:30

19.01.2013 15:06

On 18 January a session of the Cabinet of Ministers of the Republic of Uzbekistan, devoted to the results of social-economic development of the country in 2012 and main priorities of economic program for 2013, was held in Tashkent.

President of the Republic of Uzbekistan Islam Karimov delivered a speech at the session.


In his speech the head of state pointed out that despite continuing severe problems in global economy last year, the Uzbek economy maintained sustainable high growth rates, steady increase in living standards of the population was ensured and positions of the country in world markets was further strengthened.


It was particularly underlined that effectiveness of the development and reform strategy, the experience of implemeting the anti crisis program received appraisals of international financial and economic institutions, leading think-tanks in the world. In particular, the statement of the mission of the International Monetary Fund, who visited Uzbekistan in November-December 2012, notes that a stable banking system, a low level of state debt and cautious approach to external loans have fenced off the country from negative consequences of the global crisis, the economy of Uzbekistan continues to grow rapidly and its further growth for the coming year is forecasted.


In 2012 the Uzbekistan’s GDP increased by 8,2%, industrial output – 7.7%, agriculture production – 7%, construction works – 11,5%, retail trade turnover – 13.9%, and services – 14,2%. State budget is executed with a surplus of 0,4% of GDP. Inflation has not exceeded forecasted indicators.


The most important source of sustainable high rates of economic growth and diversification of economic structure has been growing volumes of investments, significant part of which consists of investments in modernisation, technical and technological renovation of leading economic sectors, development of transport and communications infrastructure. Last year US,7 bln. investments were attracted to the country, which is 14% more than a year earlier. 22% of all investments or US,5 bln. were foreign investments, 79% of which were foreign direct investments.


Export volumes significantly rose by 11,6%, foreign trade surplus was ensured. The share of non-raw material, manufactured products exceeded 70% in the exports structure.


Almost all areas of agricultural sector have shown dynamic development. Farmers grew and harvested rich agricultural products’ crop – more than 3,4 mln. tons of cotton, 7,5 mln. tons of grain, above 2 mln. tons of potatoes and 9 mln. tons of vegetables and melons.


The financial and banking system operates sustainably and reliably. Capital adequacy ratio of the banking sector is three times more than the global minimal requirements, its liquidity – more than 2 times.


Works on cardinal improvement of business climate as well as all-round support of small businesses and service sector were consistently continued. As a result the share of small business in GDP increased to 54,6%, service sector to 52%.


Dynamic development of the country’s economy provides necessary conditions for further increase of incomes and living standards of population. In 2012 salaries of employees of budget organisations, pensions, social benefits and stipends rose by 17,5%. In total, comparing to 2000, real income per capita increased 8,6 times, average salary exceeded consumer basket price more than 4 times.


Thanks to an implemented set of programs on creation of workplaces and increasing employment 973,5 thousand new jobs were created, of which 62% are in rural areas.


Within the program of quality housing and improving living standards in rural areas the works on construction of invidual houses on the basis of standard projects were continued. In 2013 10,000 invidual houses in rural areas are planned to be built, for which 1,4 trln. soums will be directed. This surpasses last years’ indicators by 54%.


Works on improving continuous education process, strengthening material-technical base of education and health sector were carried on. As a whole, 59% of total expenses of the State budget were directed towards development of social sphere.


In his report President of the Republic of Uzbekistan Islam Karimov provided a detailed and comprehensive analysis of existing challenges and utlined tasks on executing main priorities and directions of social-economic development of the country for 2013. The government, ministries and agencies were tasked with development of specific measures to ensure complex development of regions, based on identifying priority spheres for each region, fully utilising natural and raw resources, rapid and balanced development of industries, particularly of processing indutries and service sector, industrial and social infrastructure.


Management of ministries, agencies, business entities and regional executives bodies are assigned specific tasks on development and implementation of a set of measures, aimed at maintaining high economic growth rates, macroeconomic stability, increasing competitiveness of the country’s economy, active investment policy implementation, acceleration and enhancement of scopes of modernisation, technical and technological renovation of the economy and its leading spheres, diversification of production, as well as advanced development of transport and communications infrastructure.


A particular attention was paid to the necesssity of implementing program measures on achieving goals and tasks set for this year, and related to its announcement as “The Year of Welbeing and Prosperity”, including measures on further strengthening protection of human rights, freedoms and interests, creation of new workplaces, increasing incomes, living standards of population, especially of rural population, improving material and technical base of the social sphere.


Heads of ministries, agencies, organisations and khokims of regions also reported on the issues of the agenda. Following the discussions of the issues set in the session of the government, a decision has been adopted, in which practical measures to ensure implementation of main priorities of the program of social-economic development of the country for 2013 are identified.


UzA