At the meeting chaired by the President of Uzbekistan, external economic factors were analyzed, the necessary measures defined

UZBEKISTAN, March 30 – At the meeting chaired by the President of Uzbekistan, external economic factors were analyzed, the necessary measures defined

Yesterday, President Shavkat Mirziyoyev chaired a videoconference on the issues of ensuring macroeconomic stability and additional support for businesses

International experts predict that the current difficult situation in the global economy will last for a long time. This, of course, can only have a negative impact on domestic prices, especially on food products, and on inflation.

This situation is regularly analyzed during meetings with the Chairman and the necessary response measures are taken. This has given its results – the situation in the domestic market is stable.

In particular, price increases for meat, milk, potatoes, eggs and rice are not allowed. On the Commodity and Commodity Exchange, the exposure volumes of food products from overseas suppliers have been increased. The foreign exchange market and the exchange rate have stabilized.

“Our people shouldn’t worry too much about it. We have enough reserves to avoid strong fluctuations in the foreign exchange market,” said the head of state.

It was noted that reducing food prices in the upcoming month of Ramadan is a good deed, for this it is necessary to provide practical assistance to entrepreneurs. To this end, until the end of the year, the effect of the benefits on the funds allocated for the import of food products has been extended.

A republican headquarters headed by the Prime Minister and regional headquarters under the leadership of hokims were formed. They are responsible for monitoring market prices on a daily basis and arranging for additional supplies of produce based on consumer demand. The task was to establish daily monitoring of the listing of food products and raw materials on the stock exchange, in order to avoid an artificial rise in prices.

“Now the world is going through a difficult period, every day we face new challenges. But we cannot sit and wait for what will happen tomorrow. We must identify and solve problems quickly, find new opportunities”, said Shavkat Mirziyoyev.

Additional support measures for entrepreneurs have been identified to reduce the impact of external risks.

In particular, banks will provide entrepreneurs with an additional UZS 10 trillion in revolving loans for the purchase of raw materials and the replenishment of turnover. The volumes and preferential rates of loans granted under government programs for horticulture, family businesses, as well as mortgages and educational loans will be preserved.

“No matter how difficult it is, we won’t cut funds or increase the burden,” the president said.

He was also instructed not to apply fines under the new tax administration mechanisms until the end of the year, as well as to extend the period of customs benefits.

The results of the Tashkent Investment Forum were reviewed.

Contracts and agreements worth nearly $8 billion were concluded at the forum. Many foreign entrepreneurs have expressed a desire to start or expand their business in Uzbekistan.

It was noted that all conditions will be created for investors for the full implementation of these agreements and initiatives. Heads of economic sectors have been tasked with negotiating with foreign companies on integration into their production chains. The need was noted to create wholesale trade zones in the regions of Navoi, Samarkand, Tashkent, Bukhara and Surkhandarya, which will supply products to the markets of neighboring countries.

Strict instructions were given to reduce costs in regions and industries, suspend spending on repairs, purchase of cars, furniture and office supplies.

It was noted that in the current unstable situation of the international financial market, it will become more difficult to attract funds from abroad. In such circumstances, the most correct way is to use available resources wisely and effectively.

For example, to date, funds raised by 105 projects worth $9 billion are either unused or developing slowly.

In this regard, the Deputy Prime Minister was instructed, together with industry leaders and hokim, to carefully study each project, speed up implementation and stop inefficient and unpromising projects.

The main attention was paid to issues of ensuring the employment of the population.

“This issue should be considered not only as an economic indicator, but also from the point of view of the social protection of our people,” Shavkat Mirziyoyev said.

Job creation indicators by regions and districts have been analyzed and shortcomings have been pointed out.

To date, 67 types of activities are classified as forms of self-employment. It was noted that the number of such professions will be increased to 20, which will provide employment for an additional 150,000 people.

The government has been instructed to extend the scale of social assistance to the population in need of assistance.

The responsible persons provided information on the issues discussed at the meeting.

Source: News Agency “Dunyo”


Shirlene J. Manley