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Uzbekistan's GDP increased by 8.1% in January-June 2014

16 July 2014

Uzbekistan's GDP increased by 8.1 percent in January - June 2014 compared with the same period in 2013, Uzbek Prime Minister Shaukat Mirziyoev said at government meeting which discussed the results of socio-economic development in the first half of the year.

Industrial production increased by 8.1 percent, agricultural production by 6.9 percent, construction 17.4 percent during the reported period.

The state budget was implemented with the surplus of 0.1 percent of GDP.

The inflation level has not exceeded the established predictive parameters.

Total volume of investments increased by 10.8 percent in January - June, the volume of direct foreign investment - by 28.8 per cent.

Sixty-four projects, costing $680 million, have been completed in the first half of the year. Some 1,650 new production facilities have been commissioned.

The volumes of production of consumer goods increased by 10.8 percent, retail trade by 13.7 percent, paid services by 9.7 percent during the reported period.

The share of services in the country`s GDP increased by 52.7 percent versus 52.4 percent for the same period in 2013.

Uzbekistan's GDP grew by 8 percent in 2013, production of industrial production by 8.8 percent, agriculture by 6.8 percent, construction by 16.6 percent, and retail turnover by 14.8 percent; the volume of capital investment from all funding sources was 11.3 percent compared to 2012, according to the State Statistical Committee. The state budget was executed with a surplus of 0.3 percent of GDP. The inflation level has not exceeded the forecasted parameters and amounted to 6.8 percent.

In 2014, the government plans to ensure the GDP growth by 8.1 percent, industrial production by 8.3 percent, agriculture 6 percent and to increase capital investment by 9.5 percent. The inflation is planned to be kept in 6 to7 percent.

The official exchange rate on July 16 is 2324.10 soum/$ 1.