Home Uzbekistan Economy On results of socio-economic development of the Republic of Uzbekistan in the first half of 2009

On results of socio-economic development of the Republic of Uzbekistan in the first half of 2009

Economy of Uzbekistan

Economy of Uzbekistan

Implementation of key priorities of social and economic development in 2009, defined by President Islam Karimov at the government session February 13, 2009, including the comprehensive measures taken under the Anti-crisis program to prevent and neutralize the effects of the global financial crisis, provided in the first half of this year stable and balanced development of economy and social life, sustained high economic growth in Uzbekistan.

On results of socio-economic development of the Republic of Uzbekistan in the first half of 2009

I. Key macroeconomic indicators of Uzbekistan

Consistent implementation of measures to deepen economic reforms, further structural transformation and modernization of the economy, as well as accelerate the implementation of anti-crisis measures provided in the first half of this year GDP growth of 8,2%, the volume of industrial production - 9.1%, agriculture - 4,6%.

The main factors of economic growth have high rates of growth of investments of $ 132,7%, the growth of volume of construction works on 32,5%, as well as measures to expand domestic demand, characterized by the growth of retail trade by 17,7% and paid services by 18 %.

Revenues of the State budget was executed on 100,8% and achieved a budget surplus of 0,3% of GDP. The balance in the consumer market helped to perpetuate the level of inflation in the forecast parameters (3.6%).

Measures taken to support domestic enterprises exporting products for growth of exports by 2,8%, achieving a positive trade balance of $ 1,571.2 million USD.

The main indicators of socio-economic development of the Republic of Uzbekistan in the first half of 2009 (in% to the similar period of 2008)

 

Name of indicators Growth rate
GDP 108.2
Industrial output 109.1
Production of consumer goods 113.1
Gross agricultural 104.6
Capital investments 132.7
Construction work 132.5
Retail turnover 117.7
Paid Services 118

II. Continuation of the structural transformation and diversification of the economy, the acceleration of modernization, technical and technological rearmament of the most important sectors of the economy of Uzbekistan

During the first half was taken active measures to expand the resource base of investment activity in the real economy. The total capital of commercial banks in comparison with the beginning of the year increased by 11%, the assets of banks increased by 23,2%. As a result, total credit investments of commercial banks in the real sector increased by 27,2%. The total volume of credit investments share of long-term loans for investment purposes amounted to 78,5%. Deposits of the population and legal persons increased by 24,4%, including deposits from the public - by 25,3%.

In the course of the investment program in the first half of this year volume of capital investments from all sources of funding has increased by 32,7% and amounted to 6 026.5 billion soums. Volumes of non-centralized investments increased by 45,2%. Of the total capital investment in the economy on the industrial construction is directed 71,1% of investments.

Maintaining sustainable economic development of the country amid the global financial and economic crisis, marked by high heads of international financial organizations, contributed to the increase in foreign direct investment in 2,6 times. Thus their share in total investments reached 25.4% against 14.0% for the same period last year. The total volume of mastered foreign investments amounted to 1 207.6 million, including 1 066.5 million dollars of direct foreign investment.

During the period signed 34 agreements on the establishment of new modern enterprises with foreign capital participation in the free industrial and economic zone «Navoi», initiated the mobilization of technical and human resources for the construction of industrial sites in SIEZ «Navoi».

Since the beginning of this year in the republic were put into operation 193 production facilities, including light and textile industry - 32 facility, the food industry - 67, the building materials industry - 78, mechanical engineering - 5, in the field of agriculture and forestry - 4. Among them - OOO «Thermo House» to produce 20 million pieces of baked bricks in Akhangaran area, DP «Karakalpak Vermi» to produce 4,8 thousand tons of vermiculite Korauzak area, «Besharyktekstil» to produce 10 million pieces of knitwear Besharyk in an area JV «Gilamchi Carpet» for the production of 50 thousand sq ft of carpet products in the year in the city of Urgench, etc.

As part of modernization and renewal of leading sectors of the economy during the first half of this year completed 21 projects, among them - «Upgrade slate line with the development of energy-saving technologies Ltd« Bekabadshifer »,« The modernization and technical re-OOO «Polvontosh textiles» in the Andijan region, «Technological equipping production lines of liquid dosage forms, ointments, bandages» on LLC «Galenika», «The development of new types of elevators to the localization of component production» on the basis of JV «Samarkand Elevator Plant», etc.

As part of the modernization of electric power, reduce energy consumption and the introduction of energy saving to consumers of electricity installed 273,2 thousand electronic meters, providing accurate records of energy consumption. Implemented project «Construction of 500 kV substation« Uzbekistanskaya »with high-voltage line of 500 kV New Angren TPP - FS« Uzbekistanskaya ». The construction of the substation capacity of 500 thousand KVA, high-voltage line at 500 kV length 169,4 km from the Novo-Angren TPP and 220 kV high-voltage line length of 8,4 km FS «Uzgarysh».

Implementing projects «Construction of a high voltage of 500 kV« Husar »- FS« Surhan »with AT-2 on the substation« Surhan »and« Building a high voltage of 500 kV Syrdarya TPP - FS «Sogdiana» with the involvement of the Islamic Development Bank. Due to the credit of the Government of China is building new facilities external power Tashkent. Additional projects «Modernization of Tashkent Thermal Power Plant with the construction of combined cycle gas turbine capacity of 370 MW», «Translation Boiler New Angren coal-burning coal and year-round construction of power unit № 8, taking into account the technical re-cut« Angren ».

Measures taken to expand the scope of housing construction have contributed to the creation of 413 new specialized repair and construction organizations implementing the terms «turnkey» work on the planning, design, construction, reconstruction and repair of housing stock. Data taken by specialized companies for reconstruction and capital repair of 912 objects. In 1590 multi-family homes built before 1991, started major repairs, including 841 in the house are completed. In general, during the period given 4 007 thousand square meters. meters of housing, including 3 961 thousand square meters. m in individual housing construction.

III. Implementation of measures to support domestic enterprises and ensuring Uzbekistan industrial growth

In the first half of this year taken active steps to support and ensure the stable operation of exporting enterprises, reduce production cost and stimulate domestic demand for the products of domestic producers of goods and services provided by the Anti-crisis program.

In order to ensure stable operation of enterprises-exporters by commercial banks at their own expense provided soft loans worth over 81 billion soums to replenish working capital of enterprises-exporters. Due to trust funds to increase capitalization of banks, provided soft loans for realization of large investment projects totaling over 140 billion soums.

In addition, from 41 exporting companies - mostly in the textile and pharmaceutical industries - restructured the amount outstanding and current debt, including interest payments and cancellation penalties on loans of banks totaling $ 54.5 billion soums, $ 65 million and 8 million. A number of enterprises restructured accounts payable in the form of delay in the payment of fees in the budget with the cancellation of fines and penalties for payments to the budget, extrabudgetary funds, for the supply of electricity, natural gas and utility costs, totaling approximately 56 billion soums, which provided substantial support their production activities.

As a result of implementing measures to reduce production costs and improved price competitiveness of domestic producers secured the implementation of forecast parameters of the program exports to 107,4%, developed more than 30 new markets for domestic products.

Within the non-inflationary measures to stimulate domestic demand for the products of domestic producers of goods and services production localizable finished products, components and materials for the 861 project on the basis of 287 enterprises amounted to over 1 billion soums, and effect of import - 708 million dollars, which 1,8 times higher than in the past year. This year alone, the implementation of the Program of localization allowed to learn 95 new types of localized products.

In order to increase the production of consumer goods in the first half of this year commercial banks provided loans totaling $ 381 billion soums, which boosted output of consumer goods by 13,1%, including foodstuffs - by 7.9% and non-food - by 17,3%.

As a result of measures to structural transformation and diversification of the economy during the reporting period, the highest growth rate of industrial output recorded in the sectors of mechanical engineering and metalworking (117.4%), fuel (115%), timber, woodworking and pulp and paper (114,5 %), chemical and petrochemical (113.2%), construction materials industry (111,8%).

IV. Development programs and social infrastructure, improvement of Uzbekistan village

Taking active measures to develop industrial infrastructure have implemented the construction and reconstruction of public roads of international and national significance of 104,2% to the established schedule. At sections of roads with the most heavily trafficked, which provides a faster road works on the preparation of subgrade, with expansion to 4 lanes, the volume of construction and assembly work amounted to over 11 billion soums.

As a result of projects for reclamation of irrigated lands effected cleaning 6780 km of inter-district and on-farm collector-drainage network. Work continued on equipping specialized contractors modern reclamation techniques on the lease terms. A design and estimate documentation, and work began on the introduction of drip irrigation on a total area of about 2 hectares.

Under the State program «Year of development and improvement of the village» in the first half of this year purchased 126 new units of special vehicles for management improvement, repair of about 2 thousand kilometers of power lines.

In order to increase coverage and improve the quality of public services to the rural population, in the first half of this year in rural areas given 839 km of water pipelines and 435 km of gas networks.

In order to financially support rural construction created a specialized bank «Qishloq Qurilish Bank». During the reporting period given 2 861.3 thousand square meters. m of housing in rural areas.

V. Continued economic reforms in Uzbekistan agriculture

In the implementation of measures to improve the efficiency of the agricultural sector, primarily by speeding up the establishment of modern enterprise for deep processing of agricultural products during the reporting period was established 66 processing plants, equipped with mini-technologies for processing fruit and vegetable, meat and dairy products. On the total area of 341 hectares of 648 set up greenhouses lightweight design with the use of alternative sources of heat. Created 13 territorial specialized companies «Mevasabzavottayerlov-savdo» advances, purchasing, procurement, storage and wholesale of fruits and vegetables and potatoes.

As a result of measures implemented to optimize the acreage, location and efficiency of agricultural production by farmers of the country collected more than 4.4 million tons of grain, compared to the first half of last year increased production of vegetables at 17,0%, potatoes - 29,6 %, melons - by 17,0%, fruits - by 26.0%, and grapes - by 34.3%.

Number of cattle increased by 6,5% compared to the same period in 2008. Increase the production of meat by 6,7%, milk - by 6.6% and eggs - by 15,3%.

VI. Small business development and service in Uzbekistan

In order to support further development of small business in the first half of this year total lending to small businesses and private entrepreneurship increased by 67,9% compared with the first half of last year and amounted to 936.6 billion soums.

As a result, since the beginning of this year the total number of small businesses (excluding farms) increased by 5,1%. Growth in industrial output in small businesses accounted for 118,3%, which is higher than the industry average.

The share of small business in GDP rose to 40,9% (40,2% in the I half of 2008), in the industry - up to 16,2% (12,4%), in employment - up to 73,5% (72 , 7%) in exports - up to 13,4% (11,2%).

On programs on infrastructure development of services in the first half of this year directed more than 8,7 billion soums credit «Microcredit» and Employment Fund of the Ministry of Labor and Social Welfare.

As a result, during the reporting period introduced more than 1 thousand of new retail, 240 catering companies, about 1,8 thousands of consumer service. The volume of services rendered in the whole economy rose by 18,5%, while the share of this sector in GDP amounted to 46,2% against 44,9% in the first half of last year. The share of services in rural areas for all types increased from 22,4% in the first half of last year to 23,9% in the first half of this year

VII. Employment growth and improved quality of Uzbekistan life

During the reporting period created about 534,6 thousand of jobs, including 327.5 thousand (61.3%) in rural areas. Much of the jobs created in small business and private entrepreneurship (208.9 thousand). Through the active involvement of business associations in the implementation of measures to increase home-based work on labor contracts with enterprises created by 51,7 thousand home-based jobs.

The active labor market policies promoted growth of employment by 2,7%, and the number of employed against the level of last year increased by more than 288.6 thousand.

High rates of economic growth and low inflation have contributed to the growth of real incomes of the population for January-May this year to 25,9%. The average monthly wage for January-June this year increased by 40,1%.

The continuation of rapid economic growth against a background of ongoing recession, the economies of developed countries and the fall in GDP growth in developing countries is ensured, primarily due to adopted and implemented in recent years, large-scale program of modernization, technical and technological rearmament of enterprises to improve product quality, lower production costs and, consequently, increase the competitiveness of domestic products.

The timely adoption of the initiative of President Islam Karimov's anti-crisis measures to support real sector enterprises, ensuring their stable operation and to increase export capacity, not without reason noted by the International Monetary Fund as the program is most effective measures to combat the crisis among the countries of the region.

In a joint statement by the Government of the Republic of Uzbekistan and International Monetary Fund after the visit of IMF mission to Uzbekistan in December 2008, it was noted that in its strong macroeconomic position, Uzbekistan has significant resources for the financing of special policies to support growth.

Taking into account the broad range of economic policy measures envisaged by the authorities to stimulate domestic demand, including appropriate expansionary fiscal policy and prudent monetary policy, the mission expects that the economic prospects remain generally favorable in 2009, with a limited slowdown in growth and maintaining a positive balance of trade and balance of payments and fiscal surpluses.

During his visit to Uzbekistan in June 2009 Managing Director, International Monetary Fund, Mr. Dominique Strauss-Kahn welcomed the stability of Uzbekistan's economy amid global crisis, which reflects the cautious policy of the authorities, have accumulated considerable resources to support economic growth in this period. Mr. Strauss-Kahn noted that, according to forecasts by the International Monetary Fund, the pace of economic growth in Uzbekistan in 2009, is one of the highest rates in the world today.

In this regard, the most important tasks to further maintain high economic growth rates are adopted by the continuation of anti-crisis program, creation of new modern production of products with high added value with the maximum use of local resources, development of industrial and social infrastructure, providing employment in the country and improve their welfare.

Ministry of Economy
Goskomstat of the Republic of Uzbekistan

Last Updated (Sunday, 27 September 2009 14:45)