Uzbekistan planning to attract $500 million in long-term resources from IFIs

At the meeting, it was noted that despite the difficult situation in the world, the economy of Uzbekistan grew by about 5.5 percent; exports increased by more than 13 percent and will reach $19 billion by the end of the year.

In 2022, 8 trillion soums were allocated from the budget to improve the infrastructure of mahallas, address issues that worried the population for many years. Within the framework of the “Initiative Budget”, based on proposals received from about 8 million citizens, 2.5 trillion soums were allocated to projects in mahallas. At the same time, additional revenues to the budget in the amount of 16.5 trillion soums made it possible to allocate more funds to improve the infrastructure of the regions.

It is predicted that in 2023 the gross domestic product will grow by at least 5.3 percent. In the context of the continuing difficult situation in the world, efforts will be concentrated next year on ensuring macroeconomic stability and preventing a sharp rise in inflation.

The meeting determined measures to develop sectors of the economy and regions, support entrepreneurship, and further improve the lives of the population. Next year, 10 trillion soums will be allocated for the development of entrepreneurship. It is planned to direct 200 trillion soums of credit funds to the economy through banks and attract $500 million of long-term resources from international financial organizations (IFIs).

Tasks have been set to increase foreign direct investment and loans by 19 percent, bring them to $10 billion, and launch new large projects worth $8 billion.

In 2023, about 300 large projects in the regions will also be launched, worth almost $8 billion. This will increase regional industrial production by 11 percent.