TASHKENT (TCA) — A meeting of the Cabinet of Ministers of Uzbekistan on January 14 summed up the country’s economic results in 2016 and outlined the government’s priorities for 2017. Uzbekistan President Shavkat Mirziyoyev delivered a keynote address at the meeting, the President’s press service reported.
The meeting highlighted that the gross domestic product of the country increased by 7.8% in 2016. Industrial production grew 6.6%, construction works – 12.5%, retail trade – 14.4%, and services – 12.5%. The state budget was executed with a surplus of 0.1% to GDP. A surplus in foreign trade turnover was reported. Inflation did not exceed the planned parameter and was 5.7%.
More than 16.6 billion US dollars or 9.6% more than in 2015 was invested into the economy. Foreign investments and loans increased by 11.3% and exceeded 3.7 billion US dollars. Implementation of 164 large investment projects with a total cost of 5.2 billion US dollars was completed, including the launch of production of the new T-250 car model at GM Uzbekistan JSC, enhancement of the cement plant in Djizak region, construction of two steam-gas installations with a total capacity of 900 MW at the Talimarjan power plant and an energy unit burning high-ash coal with a capacity of 150 MW at the Angren power plant.
A new Angren-Pap electrified railway line was constructed with a unique 19 km long tunnel through the Kamchik mountain pass, which connected Uzbekistan’s part of the Fergana valley to the country’s mainland. The Afrosiyob high-speed passenger trains started to travel from Tashkent to Bukhara.
The government’s program of modernization and diversification of agriculture ensured agricultural production growth of 6.6%, including of fruit and vegetables by 11.2%, potatoes by 9.7%, and melons by 10.5%.
Around 32 thousand new small businesses were established in the country in 2016, 18% more than in 2015. The small businesses’ contribution to GDP increased up to 56.9% and to industrial production up to 45% of the total.
