Currency rates from 11/10/2024
$1 – 12768.30
UZS – -0.08%
€1 – 13960.86
UZS – -0.37%
₽1 – 131.15
UZS – -0.33%
Search
Economy 19/10/2012 Development of economy discussed at Uzbek parliament
Development of economy discussed at Uzbek parliament
Tashkent, Uzbekistan (UzDaily.com) -- Committee on budget and economic reforms of the Legislative Chamber of Oliy Majlis (lower house of Uzbek parliament) held a roundtable titled “Issues of ensuring competitiveness of economy of Uzbekistan in globalization processes”.

The roundtable was attended by MPs, representatives of ministries, departments, mass media and scholars.

It was stated that implementation of anti-crisis measures programme for 2009-2012 helped Uzbekistan to ensure macroeconomic stability and gradual development of economy, prevent negative impact of global financial-economic crisis to the economy of the country.

Rational budget-tax and monetary-credit policy helped to execute state budget with surplus from 2005. Measures on increasing liquidity and capitalization helped to ensure stability of the banking system. Modernization and diversification of economy allowed to strengthen export potential and increase foreign trade surplus.

In 2000, the share of industry in GPD was 14.2%, while the figure rose to 24.1% in 2011. Share of services in GDP rose from 37% in 2000 to 50.5% in 2011. Production of agriculture goods rose by 1.8 times in 2011 compared to 2000. Share of small and private businesses in GDP rose from 31% in 2000 to 54% in 2011.

The participants underlined that there is need for further structural changes and diversification of economy, modernization and re-equipment of industries, increase exports potential, saturation of internal markets with high quality products. It was noted that it is important to improve well-being of population, develop services and small business sectors.

They also considered development of laws, directed at further deepening democratic market reforms and liberalization of economy. It was said that the parliament adopted law “On realtor activities”, law “On exchange of credit information”, law “On Competition”, law “On guarantees of freedom of entrepreneurship activities” (in new edition), etc.

At the end of the roundtable, the participants developed recommendations, directed at further improving activity in this area.

Stay up to date with the latest news
Subscribe to our telegram channel