President Mirziyoyev approves Development Strategy for next 5 years 

According to the Ministry of Justice, the document approved the Development Strategy of New Uzbekistan for 2022-2026, developed on the principle of “From the Action Strategy to the Development Strategy” and the state program for its implementation in the “Year of Honoring Human Dignity and Active Mahalla”.

By 2026, the low-income population will be fully covered by social benefits and financial assistance.

From April 1 this year, schoolchildren of grades 1-4 in the Republic of Karakalpakstan and Khorezm region will be provided with free meals (breakfast or lunch).

From January 1, 2023, the maximum amount of salary in the calculation of pensions will be increased from 10 to 12 times the basic calculating pension indicator.

Under the program, measures will be taken to reduce inflation to 9% in 2022 and 5% in 2023 and the fiscal deficit to 3% as part of ensuring economic stability. By the end of 2026, the share of the private sector in bank assets will reach 60%.

From 2023, VAT will be reduced to 12% and corporate income tax for businesses such as banking, finance and telecommunications – to 15%.

By 2026, energy efficiency will be increased by 20% and emissions will be reduced by 10%.

In areas with “difficult” conditions, until January 1, 2025, a system of payment of turnover tax for new entrepreneurs at a rate of 1%, land tax, property tax at a rate of 1% will be introduced.

From July 1, 2025, a single electronic register of all mandatory requirements for entrepreneurship will be launched.

By April 1, 2022, obtaining licenses and other permits will be simplified. In particular, it will be possible to engage in certain activities on a mobile basis, by transportation.

Monopolies on more than 25 types of activity (liquefied gas supply, storage of petroleum products, etc.) will be terminated.