Saturday, 13, July, 2024

Economy

The Chinese CITIC Construction could be engaged of the Tashkent-Chinaz highway reconstruction project. This became known during a meeting between the Minister of Transport Ilkhom Makhkamov and the management of the company.

The Uzbekistan nuclear power plant project will be international, with various countries being able to be involved in it, said the first deputy chief/director of the development and international business unit at the Russian Rosatom Kirill Komarov, RIA Novosti said.

Gas production in Uzbekistan in February 2024 dropped to 3.71 billion cubic meters (BCM), the Statistics Agency said in an industrial output report.

President Mirziyoyev approved amendments aimed at improving social protection, the Ministry of Justice said. Firstly, amendments have been made to the Rent Law, providing for deleting of tenant becoming disabled event serving as grounds for terminating a rent agreement.

President Shavkat Mirziyoyev signed a decree approving an investment agreement to launch the production of BYD electric and hybrid vehicles and their components in Uzbekistan on Monday.

Uzbekistan’s official reserves as of March 1, 2024 topped $32.19 billion, decreasing by $2.37 billion in January-February, the Central Bank said in a report.

In 2023, Uzbekistan’s international trade reached US$ 62.6 billion. According to the statistics agency, Uzbekistan’s international trade in 2023 increased by 23.9% compared to 2022.

According to the Statistics Agency, in 2023 the total volume of products (services) of agriculture, forestry and fisherieswas worth of 426.3 trillion soums, or US$ 34.8 billion.

 total value of monetary receipts (cash and through terminals) to banks in Uzbekistan topped 669 trillion soums, or US$ 53 billion in 2023, which is by 28% more than in 2022, the Central Bank said in a report.

Uzbeks imported 73,204 passenger cars in 2023, the Statistics Agency said in a report. This is 2.4 times more than the 2022 figure - 30,388. In previous years, car imports grew at a slower pace: in 2022 - by 12.7%, in 2021 - by 5.2%.

German firms are offering 50 thousand vacancies for Uzbeks, the Agency for External Labor Migration said. Available vacancies are in the following trades:

According to the Statistics Agency, in 2023 Uzbekistan’s international trade topped nearly US$ 62.6 billion, recording a 23.9% increase to 2022.

At the government meeting today, the president Shavkat Mirziyoyev identified priorities for the economy of Uzbekistan for 2024, his spokesman Sherzod Asadov said.

Authorized representatives or official dealers of manufacturers are required for importing a number of home appliances into Uzbekistan from February 1, 2024. This is provided for by the president’s Jan. 10 Additional measures to further increase the productive and export potential of the electrical industry Decree, the Ministry of Justice said.

The Central Bank set a new exchange rate for foreign currencies to the Uzbek soum for January 11. At the end of trading, the US dollar to soum rate increased by 20.99 soums to a historical maximum of 12,418.03.

As per the tax and budget policies for 2024, the tax rate for limestone intended for cement production in Uzbekistan has been reduced by almost 4 times.

Uzbekistan’s official reserves topped $34.56 billion as of January 1, 2024, recording an increase by $1.67 billion in December, the Central Bank said in a report.

1.24% inflation was recorded in Uzbekistan In December 2023, the Statistics Agency said in a report. This is slightly higher than in December 2022, but lower than in previous years (in December 2022 - 1.23%, 2021 - 1.26%, 2020 - 1.55%, 2019 - 1.69%). 

Uzbekistan’s international trade reached 57.3 billion US dollars in January-November 2023, the statistics agency said. Reportedly, the volume of the country’s international trade increased by 26.2% compared to the corresponding period of last year.

At the 48th session of the Senate, the senators considered the 2024 State Budget of the Republic of Uzbekistan Bill. During the discussions, they underscored that in 2024, the GDP was forecasted to grow by 5.6-5.8 percent.