Sunday, 16, December, 2018

Finances

The Uzbek Senate has approved the 1.1% of GDP deficit state budget for 2019 at its 17the session on Thursday. The 2019 draft budget, passed this week by the Legislative Chamber, was presented by the Deputy PM/Minister of Finance Jamshid Kuchkarov.

The French IDEMIA will help Uzbekistan to launch its first FinTech lab, which enable people to create and test new technologies together with a pool of partners and experts.

The Ministry of Finance presented the Citizens Budget for the draft 2019 state budget, prepared as part of the joint project with UNDP “Promoting Public Finance Management Reform in Uzbekistan” with the financial support of the British Embassy.

Uzbekistan plans to obtain its sovereign credit rating by the year-end, and in Q1 2019 to issue eurobonds, Deputy PM/Finance Minister Jamshid Kuchkarov said.

The Board of Directors of the French Development Agency (AFD) has approved a loan of 150 million euros to Uzbekistan to finance state budget spending, the draft presidential decree said.

This statement summarizes discussions between the authorities and IMF staff in Tashkent during October 30-November 8, 2018. A previous round of discussions took place in July 2018. The authorities have continued to press ahead with economic and social reforms on all fronts. The discussions focused on the economic outlook, especially for inflation, the 2019 budget, reducing credit market segmentation, improving statistics, and better coordinating technical assistance.

A delegation of the European Investment Bank headed by the EIB Vice President Vazil Hudák will take part in the First International Tourism Investment Forum (MIF) in Tashkent on 19-21 November 2018.

Over 240,000 residents in five cities across Uzbekistan are to benefit from improved efficiency and quality of heating and hot water services, thanks to the District Heating Energy Efficiency Project. The World Bank supports the project with a US$140 million International Development Association credit approved in January 2018. On November 7, 2018, the project was officially launched in Bukhara together with the Ministry of Housing and Communal Services (MHCS) officials, local authorities, respective utility service providers, potential beneficiaries and World Bank project team.  

At Uzbekneftegaz building were held talks between the Uzbekneftegaz Chairman B. Ashrafkhanov and the officials of Total E&P Activités Pétrolières and PJSC NOVATEK, Uzbekneftegaz said.

IFC, a member of the World Bank Group, will help the Government of Uzbekistan to increase access to a quality dialysis care for patients suffering from kidney failure. With more than 1,000 patients on a waitlist for this life-saving medical service, this will be an important project for the country.