Friday, 29, March, 2024

Economy

The 2021 State Budget Bill was passed at the plenary session of the Senate on Friday. In accordance with the document, the budget revenues are planned to be at 21.3% of GDP, 147.2 trillion soums, US$ 14 billion and expenditures - 24% of GDP, 165.8 trillion soums, US$ 15.6 billion. The budget deficit, thus, is at 2.7% of GDP, or 18.6 trillion soums.

Uzbekistan and Russia are implementing US$ 22 billion worth of energy projects, the Uzbek Energy Ministry said. This figure was announced during the talks of the Energy Minister Alisher Sultanov with his Russian counterpart Nikolai Shulginov held yesterday as part of the working trip to Moscow.

Uzbekistan handed over 51% of the stake in Bekabadcement JSC back to the shareholders, the Ministry of Justice reports.

The Uzbek Minister of Agriculture Jamshid Khodjaev called for avoiding quotas for agricultural products in the CIS markets.

President Shavkat Mirziyoyev signed the Measures to further step up introduction of water-saving technologies in agriculture Decree, the Ministry of Justice reports.

As reported earlier, Fergana city hosted a meeting between the Uzbek Deputy PM/Minister of Investments and Foreign Trade S. Umurzakov with the Kyrgyz Acting Prime Minister A. Novikov.

The leadership of the Federal Treasury Enterprise "Kazan State Treasury Powder Factory" (FTE KZTPF) and representatives of the Uzbekistan Committee for Defense Industry signed a cooperation agreement, the Ministry of Industry and Trade of Tatarstan.

In the next 10 years Uzbekistan authorities have plans to build photovoltaic power plants (PVPS) with a total capacity of 5 thousand MW, the Ministry of Energy said.

On December 4, a meeting was held in Tashkent between the Uzbek Deputy PM/Minister of Investment and Foreign Trade, Sardor Umurzakov with Russian Minister of Industry and Trade, Denis Manturov.

Uzbekistan’s textile and ready-made garment exports to the EU countries will grow to US$ 1.2 billion due to the country becoming the beneficiary of the preferences within GSP+, the UzTekstilSanoat association said.

President Shavkat Mirziyoyev will today attend the opening ceremony of the Tashkent Metallurgical Plant in Tashkent’s newly formed Yangikhayot district, the presidential press service said.

Thermal power plants account for 86% of electricity generated in Uzbekistan, while the demand for electricity in the country to double by 2030, Muhammadjon Bekmuhammedov, the spokesman to Thermal Power Plants JSC said speaking about the measures take to increase production.

Cement production at Kuvasaycement and Akhangarancement has been suspended due to lack of gas, the Antimonopoly Committee said in a statement.

The Ministry of Finance proposed to introduce an excise tax of 20% on the imported sugar as of January 1, 2021 in the amendments to the tax policies for 2021" (PDF).

On November 25, President Shavkat Mirziyoyev chaired a meeting to discuss promising projects in the petrochemical industry, the presidential press service said.

VEB.RF, in a consortium with Russian partner banks, is ready to work out the financing of the phase II of the program to increase hydrocarbon production being implemented in Uzbekistan. The total volume of loans planned to be received is US$ 650 million, the corporation said.

The Accounts Chamber published the 2021 State Budget of Uzbekistan Bill and its own conclusion. It was noted that the documents for making the conclusion were submitted to the Chamber on a later than the scheduled deadline (on October 28, not on September 20).

238,868 passenger cars were produced in Uzbekistan in January-October 2020, which is by 19 956 more compared to the last year, the State Statistics Committee in a report.

The ceremony of launching the eTIR pilot project between Uzbekistan and Kazakhstan within the framework of the Turkic Council took place in Uzbekistan on 17 November 2020 with the partnership of Customs Authorities of both countries and the International Road Transport Union (IRU).

In 9 months of 2020, Uzbekistan’s GDP grew by 0.4% to the last year (5.9% in the first 9 months of 2019), the State Statistics Committee said.