Tuesday, 16, October, 2018

Finances

Construction of the second stage of the Yunusabad line of Tashkent underground, for 2017-2019 , is estimated to cost 124.8 million US dollars. The estimated cost of the project is given in the Presidential Decree, approved in November and published on the Finance Ministry’s website on January 4.

The Finance Minister of South Korea and Deputy Prime Minister of Uzbekistan held a meeting Wednesday to discuss ways to bolster bilateral economic cooperation amid rising global uncertainties, the finance ministry said.

By the Presidential Decree, Khodjaev Botir Asadillaevich was appointed as the new Minister of Finances replacing Rustam Azimov.

Until now, Khodzhaev served as the First Deputy Minister of Economy responsible for macroeconomic parameters, financial and currency balance and the development of National investment program.

Khodjaev was born in 1956 in Tashkent. In 1979 he graduated from the Tashkent Institute of Railway Transport Engineers. He served as the Minister of Economy and Tax Committee Chairman.

Currency policy liberalization of scale is expected in Uzbekistan in 2017, which is aimed at the development of the local currency market and raising its efficiency and improving conditions for foreign economic activity of business entities.

The Asian Development Bank (ADB) today approved a $154 million loan to enhance horticulture value chain development in all 12 regions in Uzbekistan and the autonomous region of Republic of Karakalpakstan.

The regulator announced that the Board of the Central Bank made a decision to maintain the Bank’s rate at 9%. The Central Bank added that the decision was aimed at implementing the effective monetary policy, keeping the inflation at its target level and stimulating the economic growth.

The Uzbek Finance Minister announced that the license of Agro Invest Sug’urta (an insurance company) has been revoked following the decision of the Tashkent city Economic Court dated 24 May 2016. 

A regulation has been adopted in Uzbekistan on procedure of suspending transactions, freezing monetary funds or other assets, providing access to frozen assets and resumption of transactions of persons, included to the list of persons, who were engaged or suspected to be engaged in acts of terrorism or proliferation of arms of mass destruction.

China's yuan joins the International Monetary Fund's basket of reserve currencies on Saturday in a milestone for the government's campaign for recognition as a global economic power. 

The Uzbek Currency Exchange has obtained the license for foreign currency exchange operations, reports the press service of the Central Bank of Uzbekistan.