A videoconference chaired by the President of Uzbekistan has commenced to review the results achieved in the first half of the current year and discuss the priorities and tasks to be accomplished by the end of the year
Economy
Uzbekistan's economy posted solid growth in the first half of the year, but the current results should serve as a foundation for achieving even stronger performance. This was emphasized during a videoconference chaired by the President, where first-half results and priorities for the remainder of the year were reviewed.
The President stressed that ministers, industry leaders and regional officials should go beyond reporting statistics by identifying new growth reserves, presenting clear implementation mechanisms and outlining the expected outcomes by the end of the year. He noted that the changing global environment requires every leader to prepare additional development scenarios.
During the first six months of the year, Uzbekistan's GDP grew by 8.5%. Industrial output increased by 8%, services by 16.9%, construction by 13.8%, and agriculture by 4.7%. Investment reached $28 billion, while exports totaled $14.4 billion. International rating agencies Fitch and Moody's upgraded Uzbekistan's sovereign credit rating by one notch.
At the same time, the President stated that economic growth of 9–10% is necessary to further improve the living standards of the country's population. The meeting included a critical review of regional and sectoral performance, highlighting that some regions had not fully utilized their potential in gross regional product, construction and investment.
Special attention was given to reforming the mahalla system. A 40-day special initiative has been launched to introduce a new working model in 2,000 of the country's most challenging mahallas. Regional governors will be personally responsible for resolving electricity, gas, water supply and road infrastructure issues, while employment authorities will focus on vocational training, job placement and increasing household incomes.
The President also expressed dissatisfaction with the performance of banks operating at the mahalla level, stating that the effectiveness of regional banking managers and mahalla associations will be assessed over the next three months. Oversight of the reforms has been assigned to the Prosecutor General's Office and the Accounts Chamber.
Another key focus was improving the business environment. The President instructed officials to reduce bureaucracy, penalties, fees and charges, emphasizing that regulatory authorities should first help entrepreneurs correct deficiencies rather than immediately imposing sanctions. All ministries and government agencies have been instructed to submit proposals within one week to further improve conditions for business development and exports.
During the first six months of the year, Uzbekistan's GDP grew by 8.5%. Industrial output increased by 8%, services by 16.9%, construction by 13.8%, and agriculture by 4.7%. Investment reached $28 billion, while exports totaled $14.4 billion. International rating agencies Fitch and Moody's upgraded Uzbekistan's sovereign credit rating by one notch.
At the same time, the President stated that economic growth of 9–10% is necessary to further improve the living standards of the country's population. The meeting included a critical review of regional and sectoral performance, highlighting that some regions had not fully utilized their potential in gross regional product, construction and investment.
Special attention was given to reforming the mahalla system. A 40-day special initiative has been launched to introduce a new working model in 2,000 of the country's most challenging mahallas. Regional governors will be personally responsible for resolving electricity, gas, water supply and road infrastructure issues, while employment authorities will focus on vocational training, job placement and increasing household incomes.
The President also expressed dissatisfaction with the performance of banks operating at the mahalla level, stating that the effectiveness of regional banking managers and mahalla associations will be assessed over the next three months. Oversight of the reforms has been assigned to the Prosecutor General's Office and the Accounts Chamber.
Another key focus was improving the business environment. The President instructed officials to reduce bureaucracy, penalties, fees and charges, emphasizing that regulatory authorities should first help entrepreneurs correct deficiencies rather than immediately imposing sanctions. All ministries and government agencies have been instructed to submit proposals within one week to further improve conditions for business development and exports.
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