President Shavkat Mirziyoyev chaired the discussion on the economic results of 9 months of the current year, indicators expected by the end of the year and macroeconomic forecasts for 2024.
For 9 months of the current year, the economy of our country has grown by 5.8%. In particular, the industry has grown by 5.7%, agriculture – by 4.1%, and the services sector – by 12.1%.
Despite the challenges in the global market and logistics, exports have increased by 23.5% amounting $17.7 billion.
Thanks to the implementation of large industrial and infrastructure projects in the sectors of the economy and regions, 226.6 trillion Uzbek sums were investad, which is 11.8% more than in the same period last year.
The indicators expected by the end of the current year were analysed.
The Head of our State noted that the complex and uncertain global situation is having a negative impact on the economy, which means that we need to do more to exploit domestic opportunities to maintain sustainable economic growth.
Therefore, the value-added tax was reduced from 15% to 12% from 2023. As a result, 7 trillion Uzbek soums of additional funds will be available to entrepreneurs.
Moreover, 35 trillion Uzbek sums were allocated for improving the infrastructure of the regions, and 19 trillion Uzbek sums – for social support of the population.
Consequently, with the global economy expected to grow by 3% this year, the national economy is expected to grow by at least 5.6%.
At the meeting, the measures to maintain stable economic growth in 2024 were discussed in detail.
As it is well known, in the “Uzbekistan – 2030” Strategy adopted in this September, many of the goals and objectives of sustainable economic growth and welfare improvement were defined. The government has been instructed to carefully work out the economic program for 2024 through the prism of performing tasks in the strategy.
It was pointed out that there are all opportunities and reserves to continue the current growth rates of gross domestic product next year.
In particular, the launch of more than 300 projects worth $13 billion, the stabilization of energy supply, and the improvement of industrial efficiency will create opportunities for industrial growth of 6% by 2024.
It was noted that to ensure 15% growth in the service sector, it is necessary to fully utilize untapped opportunities in such areas as transportation, logistics, agro-services, insurance, leasing.
The Head of our state emphasized the reforms in transport, water and utilities must be stepped up, and the population and the economy must be supported.