Cabinet of Ministers of Uzbekistan considers 1Q development results

April 19, 2007

The Cabinet of Ministers of Uzbekistan held a session on April 17, 2007 to consider the results of the country’s socioeconomic development in the first quarter of the year. Prime Minister Shavkat Mirziyoyev chaired the session.

Uzbekistan’s GDP increased by 9.1% in the first three months of 2007, it was said at the session. Industrial production grew by 12%, agricultural production by 5.5%, construction sector by 12.8%, retail turnover by 16.5% and paid services by 25%.

State budget surplus made up 1.7% in the first quarter, while inflation comprised 2.9%, which was within the forecast.

Foreign trade was growing at high pace, with exports increasing by 21.1%.Positive foreign trade balance made up about USD 600 million.

The volume of used foreign investments increased by 36.4%, and foreign direct investments grew by 47%.

43 large infrastructure and industrial objects were commissioned in the reporting period, including 7 textile enterprises.

Implementation of large projects co-financed by Uzbekistan’s Reconstruction and Development Fund, as well as the first project using the Clean Development Mechanism of the Kyoto Protocol at two mineral fertilizer plants has started.

Production in small and medium business sector also showed high growth, leading to increase of the SME share in GDP to 33.2%.

The share of the service sector in GDP reached 43.5%.

About 150,000 new workplaces were created in the first quarter.

Almost 14,000 low-income and large families were provided with cattle worth UZS 5.5 billion.

The Employment Support Fund issued microcredits worth UZS 2.9 billion to 3,400 low-income families. 1,500 workplaces for the disabled were created, of which 1,160 received employment at home.

26,000 citizens living alone and 121,000 low-income families received material support from sponsors.