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Uzbek leader holds meeting to discuss macroeconomic forecasts for 2023


Tashkent, Uzbekistan (UzDaily.com) — Under President Shavkat Mirziyoyev, a discussion of macroeconomic forecasts for the period up to the end of the year and for 2023 was held.

It is expected that despite the difficult situation in the world, according to the results of the current growth of the economy of our country, it will be at least 5.5 percent, exports will increase by more than 13 percent and reach US$19 billion. In state policy, the issues of increasing employment and improving the living standards of the population remain a priority.

In particular, in 2022, 8 trillion soums were allocated from the budget to improve the infrastructure of mahallas, address issues that have worried the population for many years. Within the framework of the “Initiative Budget”, based on proposals received from about 8 million citizens, 2.5 trillion soums were allocated to projects in mahallas. At the same time, additional revenues to the budget in the amount of 16.5 trillion soums made it possible to allocate more funds to improve the infrastructure of the regions.

It is predicted that in 2023 the gross domestic product will grow by at least 5.3 percent. In the context of the continuing difficult situation in the world, efforts will be concentrated next year on ensuring macroeconomic stability and preventing a sharp rise in inflation.

The meeting determined measures to develop sectors of the economy and regions, support entrepreneurship, and further improve the lives of the population.

In particular, important tasks were set to achieve next year the growth of industry by 5.1 percent, agriculture by 3.5 percent, and the service sector by 14.1 percent. It also indicated the possibility of increasing industrial production by 12 trillion soums due to the identified reserves. 10 trillion soums will be allocated for the development of entrepreneurship. It is planned to send 200 trillion soums of credit funds to the economy through banks and attract US$500 million of long-term resources from international financial organizations.

Tasks have been set to increase foreign direct investment and loans by 19 percent, bring them to US$10 billion, and launch new large projects worth US$8 billion.

In 2023, about 300 large projects in the regions will also be launched, worth almost US$8 billion. This will increase regional industrial production by 11 percent.

At the meeting, an export plan for industries and regions for 2023 in the amount of US$18 billion was presented. In particular, it is planned to increase regional exports by 60 percent and bring it to almost US$10 billion.

The head of our state gave instructions to increase exports by 50-60 percent in such industries as electrical engineering, textiles, building materials, the leather and footwear industry, agriculture and pharmaceuticals.

Source: UZ Daily