On April 24, President Shavkat Mirziyoyev chaired a meeting to review economic results across regions and sectors in the first quarter, as well as to set priority tasks until the end of the year.
The macroeconomic results achieved in the first quarter were reviewed. In particular, gross domestic product grew by 8.7 percent, while industry grew by 8 percent, the service sector by 16.1 percent, and agriculture by 5.1 percent. Exports amounted to 5.8 billion dollars, and the volume of foreign investment reached 13.7 billion dollars. The annual inflation rate fell to 7.1 percent for the first time.
According to a report published last week by the International Monetary Fund, Uzbekistan maintains stable and dynamic economic growth driven by high economic activity. This year, the country also rose 14 positions in the Index of Economic Freedom and, for the first time, was ranked among countries with a “moderately free economy.”
Particular attention was paid to curbing inflation. The Head of State stressed that despite economic growth, rising inflation prevents the population and entrepreneurs from fully experiencing positive changes in their lives.
Special attention was paid to the quality of investment projects. The Head of State emphasized that every new project and every dollar invested must serve the creation of added value, high-income jobs, and export growth.
This year, the goal has been set to attract $53 billion in foreign investment.
