“Gasoline prices rose by 19% over the year despite the exemption from excise duty” – Shavkat Mirziyoyev

At a meeting to ensure macroeconomic stability and economic development, the president raised the issue of rising gasoline prices.

Photo: Presidential press service

As the president noted, at the beginning of last year, officials were instructed to stock up on sufficient amounts of gasoline. To prevent price increases, gasoline was also exempted from excise tax for a year.

However, according to the president, gasoline prices have risen by an average of 19% over the past year due to increased costs of transportation, production and exports.

“I will say this again and again. Inflation is a tax on the income of individuals and businesses. If we don't curb it, there will be no poverty reduction or economic growth,” the president said.

Shavkat Mirziyoyev also noted that food prices are likely to rise around the world next year and that food inflation can only be prevented by increasing their quantity.

It was also stressed at the meeting that from now on every year a special government resolution will be adopted to increase production output. Every week, the first issue brought up for discussion at a government meeting will be devoted to curbing inflation.

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