Last year, GDP per capita was $1,750, but this year the figure is expected to reach $1,900. For sustainable development, the focus will be on private and foreign investment over the next five years.
Over the next five years, GDP per capita will increase by more than $180 per year and reach $2,800. This was announced by First Deputy Minister of Economic Development and Poverty Reduction Ilkhom Norkulov at an international conference “Sustainable Development of Uzbekistan” held on September 24.
“In five years, we want to increase the GDP per capita to $2,800. Last year, it was $1,750 and it is expected to be around $1,900 this year. This will pave the way for entering the upper group of middle-income countries,” Kun.uz correspondent quoted him as saying.
He also said that in the future, the state should focus on private and foreign investment.
“It is important to ensure macroeconomic stability: while public resources have largely supported economic growth over the past five years, we now need to strengthen the role of private and foreign investment. We have a special project in this direction with the UN Development Program. We have come to the conclusion from this project that we have the opportunity to invest not only in the social sphere and infrastructure, but also in the private sector, large-scale projects on the basis of public-private partnership. Most importantly, in ensuring stability, the state should gradually reduce its involvement and create conditions for the development of the private sector,” he said.
Earlier, Obid Khakimov, director of the Center for Economic Research and Reforms, said that there was a difference between GDP per capita and income.