Uzbek GDP grows 7.5%

Uzbek GDP grows 7.5%
09:52 25 Aprel 2015
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Tashkent, Uzbekistan, Apr. 24
By Demir Azizov– Trend:

Gross domestic product (GDP) of Uzbekistan in January - March 2015 rose by 7.5 percent compared with the same period of 2014, industrial production increased by 7.9 percent, agriculture saw a 6, 3 percent growth, and the service sector grew by 13.1 percent.

These data were presented at a government meeting, held Apr.24 under the chairmanship of Prime Minister Shavkat Mirziyayev, who discussed the results of socio-economic development of the country in the first quarter of 2015, the press service of the government told Trend.

The share of services in gross domestic product rose to 53.2 percent compared to 52.9 percent in the first quarter of 2014.

Production of consumer goods increased by 11.2 percent, retail trade - by 15.2 percent.

The volume of spent investments, aimed at implementation of programs and investment projects on modernization and diversification of industrial production, deepening localization of finished products, components and materials, increased by 8.7 percent, including a 10 percent growth in foreign direct investment.

State budget was executed with a surplus of 0.1 percent of GDP. Inflation did not exceed the forecast parameters.

Implementation of 53 new investment projects has started as part of the investment program for 2015. The total cost of these projects exceeds $4.8 billion.

The growth of the investment activity has allowed to increase the volume of contractual construction work by 18.9 percent.

As part of the implementation of territorial programs of socio-economic development of regions, 434 new production facilities were commissioned, 169 kilometers of water supply networks, 54 kilometers of gas supply networks, 1.3 million square meters of housing were put into operation in the rural areas.

The implementation of measures on stimulating the exporting enterprises and rendering comprehensive assistance to them in promoting the products to foreign markets allowed to ensure 13.9 percent growth of the export volume and positive trade balance. Moreover, 146 new enterprises were involved in the export activities.

Uzbekistan’s GDP grew by 8.1 percent in 2014, compared to 2013, the industrial production – 8.3 percent, agricultural production – 6.9 percent.

Uzbekistan’s government plans to ensure 8-percent growth of GDP, 8.3 percent – industrial production, 6 percent – agricultural production and increase the volume of capital investments by 9.6 percent in 2015. It is planned to keep the inflation level at 5.5-6.5 percent.

The official exchange rate on Apr.24 is 2507.40 soums/$1.

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