The recovery of the Uzbek economy is expected to be gradual as the lockdown shock fades away, the Central Bank said. However, the return to the pre-crisis figures will take some time due to the relatively low growth in the households’ incomes, and due to the more cautious behavior of economic agents when making decisions.
After the outlined trend towards a gradual recovery in economic activity in May-June, there was a slight slowdown in a number of indices in July-August, the regulator noted.
Construction works growth slowed moderately to 5.7% from 7.3% in January-June. The total number of all transactions through the bank payment system in July and August decreased by 8% and 9% relative to June, respectively.
Despite the fact that most of August fell on the lockdown period, there was a slight recovery in the growth of cash receipts from trade and paid services after their decline in July by 11.9% compared to June (from 12.6 trillion soums to 11 , 1 trillion soums). Thus, cash receipts in August increased by 6%, reaching the last year's level for the same month.