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Uzbek GDP revealed

15 August 2018 14:50 (UTC+04:00)
Uzbek GDP revealed

By Kamila Aliyeva

Gross domestic product (GDP) of Uzbekistan in January-June of 2018 amounted to about 153 trillion soums ($1.9 billion) or increased by 4.9 percent compared to the same period last year.

This was reported at the meeting of the Milli Tiklanish faction of the Democratic Party of Uzbekistan in the Legislative Chamber.

When calculating per capita, the figure amounted to 4.65 million soums. This indicator increased by 3.1 percent as compared to the same period of the last year.

At the same time, in comparison with the corresponding period of 2017, growth in industry was achieved by 6.1 percent, in agriculture, forestry and fisheries - 2.7 percent, in construction - 9.7 percent, in other service spheres - 5 percent.

The meeting noted that as a result of the complex measures implemented for the development of the country's economy and fiscal policy, in particular, improving tax administration and intergovernmental relations, strengthening the revenue base of local budgets in the first half of 2018, the state budget was implemented in accordance with the approved parameters, provided execution with a surplus of 0.1 percent related to GDP.

Earlier, the International Monetary Fund (IMF) predicted that during 2018-2019, Uzbekistan’s GDP will continue to expand steadily at about 5 percent, supported by favorable external demand and commodity prices, a pickup in agriculture due to reform measures and the expected normalization of harvests, and a humming construction sector building houses and public infrastructure.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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