Uzbekistan’s GDP grew 7.8% in 2016. This was announced by President Shavkat Mirziyoyev on Saturday's enlarged meeting of the Cabinet of Ministers.
During the meeting it was noted that the volume of industrial output increased by 6.6%, agricultural output - by 6.8%, construction works - by 12.5%, retail trade turnover - by 14.4%, services - by 12.5%.
A state budget surplus of 0.1% to GDP was recorded. The inflation rate did not exceed the forecast figures. A favourable foreign trade balance was recorded.
In 2016, over $ 16.6 billion were invested in Uzbekistan, a 9.6% increase compared to 2015 of whuch foreign investments and loans amounted to $ 3.7 billion, an increase by 11.3%.
In 2016, 164 major investment projects worth $ 5.2 billion were implemented.
In 2016 the agricultural output increased by 6.6%, including fruits and vegetables - by 11.2%, potatoes - by 9.7%, melons - by 10.4%.
In 2016, about 32 thousand new SMEs were registered, which is by 18% more than in 2015. The share of small business in GDP amounted to 56.9% and that of the industry - 45%.
According to the forecasts of the Government of Uzbekistan, GDP growth is expected to be at 7.8% in 2017, industrial output - by over 8%, agricultural output - by 6.2% and capital investments - by 9.6%.
