Sunday, 05, April, 2020

Finances

President Shavkat Mirziyoyev instructed the Ministry of Finance to develop specific substantiated proposals to cut the value-added tax at the government meeting on Wednesday, the Uzbekistan 24 said.

RAEX-Europe confirmed the sovereign government credit rating (SGC) of Uzbekistan at ‘BB-’ (Sufficient level of creditworthiness of the government) and at ‘BB-’ (Sufficient level of creditworthiness of the government) in foreign currency. The rating outlook is stable which means that in the mid-term perspective there is a high probability of maintaining the rating score.

The Government issued a resolution amending the Regulation on the procedure for obtaining banking licenses, the Capital Markets Development Agency said in a statement.

Starting from today, August 20, the Uzbek banks began selling foreign currency in cash. According to the Central Bank (CB), this move was "part of the liberalization of the foreign exchange market."

Uzbekistan made significant progress by publishing its executive budget proposal. During the review period, the government made its executive budget proposal, enacted budget, and end-of-year report widely and easily accessible to the general public, including online. Information on debt obligations, including contingent and state-owned enterprise debt, was not publicly available.

Shavkat Mirziyoyev yesterday hosted the president of the Asian Infrastructure Investment Bank (AIIB), Jin Liqun, the presidential press service said in a statement.

Uzbek soum suffered its worst one-week fall on Friday since the authorities devaluated currency in September 2017. The soum fell by 3 percentage points against the dollar, to as low as 8,882 UZS, breaking a period of relative calm in Uzbek emerging markets so far this year.

Uzbekistan and the Asian Infrastructure Investment Bank (AIIB) are planning to implement joint projects in Afghanistan, the Uzbek investment minister Sardor Umurzakov said Tuesday.

Mayor of Tashkent city Jahongir Ortiqhujaev and Country Director of Asian Development Bank’s (ADB) Uzbekistan Resident Mission Ms. Cindy Malvicini signed the memorandum of agreement to advise on a public-private partnerships (PPPs) to improve district heating services in Tashkent city.

The Eurasian Development Bank (EDB) is considering US$ 2 billion worth of about 70 projects, said Amangeldy Isenov, deputy chairman of the bank.