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Uzbekistan’s GDP rises 8% in 2015

Uzbekistan’s GDP rises 8% in 2015

Date: 16 January 2016 11:32

Tashkent, Uzbekistan, Jan. 16

By Demir Azizov – Trend:

Uzbekistan’s gross domestic product (GDP) rose by eight percent in 2015 as compared to 2013, according to Uzbek President Islam Karimov.

He made the remarks Jan. 15 at a Cabinet of Ministers’ meeting dedicated to the previous year.

Sustainable growth rates were ensured as a result of implementation of measures for strategic transformation and diversification of economy, he said.

Industrial production rose by eight percent, agriculture – by 6.8 percent, retail trade – by 15.1 percent, paid services – by 10.8 percent, and construction works – by 17.8 percent.

Investments to the economy rose by 9.5 percent and amounted to $15.8 billion. Over $3.3 billion or 21.1 percent of all the investments to the country accounted for foreign investments, some 73 percent of which were direct foreign investments.

Construction and commissioning of 158 large production facilities, with a total value of $7.2 billion, were completed in 2015.

The state’s budget was executed with a surplus of 0.1 percent of GDP. The inflation rate was 5.6 percent.

In 2014, Uzbekistan’s GDP grew by 8.1 percent, industrial production - by 8.3 percent, agricultural production – by 6.9 percent, while the volume of investments from all financing sources rose by 10.9 percent.

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