President of Uzbekistan Islam Karimov participated in the session of the Cabinet of Ministers, which took place on July 18 in Tashkent. During the session participants considered the results of the country”s socioeconomic development in the first half of 2008 and priorities for the rest of the year.
The growth of the gross domestic product in the first six months of the year comprised 9.3%, it was stated at the session. Industrial production increased by 12.2%, consumer goods production by 16.6%, agriculture by 5.4%, retail trade by 14.4% and paid services by 18.9%.
Foreign trade turnover retained high growth rates – almost 1.5 times, mostly due to export growth. State budget was executed with a surplus of 1.8% to GDP and the inflation levels did not exceed the forecasts.
Implementation of the Investment program, as well as localization and modernization programs in the key industries ensured growth of investments by 19.8%, including foreign direct investments by 29.4%.
185 new industrial objects were commissioned in the reporting period, among which are textile enterprises Asaka Textile, Surkhontex, Navbahor Tex, Rishtan Textile and others.
The share of the small business in the GDP increased to 40.2% against 38.1% in the same period of 2007.
In the framework of the Year of youth state program, UZS 702 billion was allocated for the support of the young people, creation of new workplaces, improvement of the young families” living conditions and quality of the education. Young families received soft mortgage credits worth 17.1 billion sums.
Positive tendencies in the country”s macroeconomic development were highly evaluated by the international organizations, including the International Monetary Fund.
Speaking at the Cabinet session, President Islam Karimov stressed that the measures to modernize industrial sectors, introduce new technologies, creation of new jobs, especially in rural areas, and improvement of living conditions had to be expanded.
