Azernews.Az

By Aynur Jafarova

Uzbekistan intends to maintain sustainable economic growth in the medium term (2015-2018) at the level of 7-8 percent.

This was noted at the published materials of the Tashkent International Investment Financial Forum, Trend Agency reported.

It is planned to maintain the growth rate of Uzbekistan's industrial production at 8-9 percent per year, agricultural production at 5-6 percent, and the service industry at 14-17 percent.

Also, the growth of investments in fixed capital are planned to be maintained at the level of 9-11 percent.

The Uzbek government also intends to achieve these planned volumes by conducting an active industrial policy aimed at structural transformation and rapid growth in the share of the processing industry.

The main factors for ensuring Uzbekistan's high economic growth also include the use of modern innovative technologies, modernization and development of industrial infrastructure, intensification of production in the agricultural sector by using new water-saving and productivity technologies.

The government also intends to continue its policy to further liberalize the economy and improve the business environment for the development of small business of private entrepreneurship, attracting foreign investments, stimulating and supporting exports.

The European Union (EU) is also interested in Uzbekistan's development in the coming year. So, it plans to allocate around 70 million euros to the country for this purpose.

The EU has provided about 72 million euros to support the development of Uzbekistan in 2007-2013, and this amount can reach 68 million euros in 2014-2020.