President Islam Karimov delivered a speech at the beginning of the session. As the president of the country noted, high and steady rates of growth and the macro economic stability of the economy was maintained last year. Work on further restructuring, modernizing and technical and technological upgrading of production continued.

GDP increased by 9.5%, production of industrial goods by 12.1%, agricultural goods by 6.1%, construction work by 15.7% and retail turnover by 21%.

The state budget showed a positive balance, the level of inflation did not exceed the planned index. High rates of export growth ensured the stability of the balance of payment and a substantial growth in gold and currency reserves of the country. The share of ready-made goods amounted to more than 38%.

Volumes of investment in the economy increased by 23%. More than 70% of investments were aimed at developing production facilities.

As President Islam Karimov noted, foreign investments totalled US$1 billion last year. Work is continuing on further liberalization and encouragement of private businesses.