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GDP to Grow by 7.8% Next Year

At an enlarged meeting of the Committee of the Legislative Chamber of Oliy Majlis on budget and economic reforms, a project of Budget Message has been considered: State budget, state trust funds and the main directions of tax and budget policy of the Republic of Uzbekistan for 2016.

The project of the State budget and the budgets of the trust funds in 2016 provide GDP growth by 7.8%, industrial production - by 8.2%, agricultural production - by 6.1%, the volume of investments – by 9.6%.

The amount of funds allocated to education and health, which is important in social spending, maintaining the trend of growth in comparison with last year, will be respectively 6.8% and 2.8% in relation to GDP in 2016.­

In 2016, the economy will receive funds for 2.1% relative to GDP.

The volume of centralized investments financed from the state budget amounts to 1% in relation to GDP. That will contribute to the solution of such problems as the implementation of major transport and communication projects, including the continuation of the construction of new-electrified railway lines ‘Angren-Pap’, ‘Navoi-Kanimekh-Miskin’. In addition, these investments will contribute to the State program for the improvement of architectural shape cities of the country, the construction of important large water conservancy facilities and irrigation facilities for the effective use of water resources, the creation of social infrastructure in residential areas based on model projects and other tasks.

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