Shavkat Mirziyoyev instructs government to ensure price stability in the market

The current state of economic development was analyzed and additional measures were identified.

Photo: Presidential press service

Shavkat Mirziyoyev held a meeting on March 23 to discuss measures to ensure economic stability.

“During the coronavirus pandemic, our decisions to bring all sectors out of difficult conditions have paid off. Even in the current situation, we need to anticipate the risks. We need to define concrete measures so that world events do not negatively affect the results. In particular, we need to create conditions for entrepreneurs and provide them with all possible support,” the President said.

Therefore, the meeting analyzed the current state of economic development and identified additional measures.

The Ministry of Economic Development and Poverty Reduction, the Ministry of Investment and Foreign Trade have been instructed to establish daily dialogue with entrepreneurs and promote their projects, production activities, export-import operations.

The task was set to take immediate measures to prevent potential risks by establishing daily monitoring in the network and regions. It was noted that it is necessary to further simplify the system of revolver lending to businesses to replenish working capital.

The President also touched upon the issue of exports and instructed to expand the practice of exporting enterprises to address transport and logistics issues, partially covering their transportation costs.

It is known that today in the world there are problems with the supply of food products and their prices are rising significantly. Therefore, the Cabinet of Ministers was given additional instructions to meet the needs of the population by ensuring price stability in the domestic market, assisting entrepreneurs importing wheat, vegetable oil, sugar and other food products. It was also reiterated that the main task of the Government is to reduce inflation and ensure its rapid return to targets.

Given the uncertain situation in the foreign exchange market, the Central Bank was stressed the importance of taking a cautious approach to ensuring the stability of the domestic foreign exchange market and exchange rate flexibility. It was noted that it is necessary to monitor the situation in the domestic foreign exchange market on a daily basis and inform entrepreneurs, in general, our people about the current situation, the expected changes and measures taken.