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Economy 17/07/2010 Uzbekistan’s economy grows by 8% in January-June 2010
Uzbekistan’s economy grows by 8% in January-June 2010
Tashkent, Uzbekistan (UzDaily.com) -- Gross domestic product (GDP) of Uzbekistan grew by 8% year-on-year in the first half of 2010, the Cabinet of Ministers said on 16 July at its session dedicated to social-economic development of the country in January-June 2010.

According to the government, the production of consumer goods rose by 11.8% in the first half of 2010. Industrial output of Uzbekistan in the reporting period grew by 8% year-on-year.

Production of agriculture rose by 6.9% and the volume of construction works grew by 11.5%. Retail turnover rose by 10.3% and services by 10.9%.

State Budget was executed with 0.2% surplus to the GDP, while inflation rate did not exceed the forecasted figure.

Support of exporters and active search of new markets, the growth of exports made up 14.3% and the country achieved significant current trade balance. The Uzbek exporters traded goods and services with 139 countries, of which 26 were new countries.

In the reporting period, the volume of population rose by 41.8% compared to the beginning of 2010, which significantly strengthened resource base of the banks. The loan investments rose by 30.3% in the reporting period of 2010. The volume of used investment loans grew 2.3 times.

Uzbekistan used investments at the volume of 7.1 trillion soums, while utilization of foreign direct investments rose by 1.3 times year-on-year. The country completed 108 projects on technical modernization of technical capacities and commissioned 529 production objects.

In the result of adopted measures, about 509,000 new jobs were created in Uzbekistan, of which 350,000 in rural areas in January-June 2010.

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