Information about the economic situation of Uzbekistan

The economic status of Uzbekistan in January-July 2023 was reported. 

According to the preliminary data of the statistical agency, the economic situation of the Republic of Uzbekistan in January-July 2023 in numbers: 

physical volume index of industrial production-105.7 percent;
growth rate of the volume of construction works-104.8 percent;
retail trade turnover growth rate-107.1 percent;
growth rate of the volume of market services-112.4 percent;
foreign trade turnover growth rate-123.3 percent;
export growth rate – 131 percent;
import growth rate-118.1 percent;
number of enterprises and organizations operating - 476,701;
the number of small business entities operating is 409,988.
Earlier, the Ministry of Economy and Finance published data on the implementation of the publication “budget for citizens” in 2022. It reports a number of economic indicators, in particular the budget deficit of Uzbekistan last year and sources of its compensation.

Consolidated budget revenues in 2022 amounted to 286 trillion 504 billion soums, while expenditures amounted to 321 trillion 733 billion soums. The budget deficit was -35.2 trillion 229 billion, reaching 4% of GDP.

“The increase in the deficit from the amounts planned at the beginning of last year (25.5 trillion soums or 3% of GDP) is mainly explained by the increase in investment costs in the social sphere, economy and population support and social and production infrastructure,” the source said.

The ministry reported that the following sources were directed to cover the consolidated budget deficit (-35.2 trillion soums:

at the expense of the issuance of borrowed funds and eurobillations of international financial institutions-16.7 trillion soums;
borrowed funds attracted for the implementation of state programs-5.7 trillion soums;
at the expense of residual funds per year-1.9 trillion soums;
revenues from the privatization of state assets-45 trillion soums;
at the expense of issuing state treasury bonds – 6.4 trillion soums.
The national debt of Uzbekistan reached $ 29.2 billion in 2022, 36.4% of GDP. This is the highest indicator of the country's public debt so far.

For reference, in 2023, the limited volume of new agreements signed on behalf of Uzbekistan and under the guarantee of the Republic for the attraction of foreign debt was set at US $ 4.5 billion. Of this, it is planned to direct $ 2 billion to support the state budget, and $ 2.5 billion to finance investment projects. According to the”state budget act", 19.2 trillion soums will be used to pay the bulk of the public debt in the current year.