Socio-economic development of Uzbekistan in 2004

Cabinet of Ministers held a session on 18 February to discuss the development of Uzbekistan in 2004 and tasks for 2005.

It was noted that last year economic growth comprised 7.7%.

Increase of industrial production made up 9.4%, consumer goods production 13.4%, paid services 13.8%, retail turnover 4.7% and investments in main capital 5.2%.

Inflation of consumer prices comprised 3.7%, while the state budget deficit made up 0.4%.

In agriculture, production increased 10.1%.

Export volumes grew 1.3 times last year, with positive trade balance comprising 1.037 billion dollars. Exports of finished goods increased 52%.

In the framework of the administrative reform, about 20 state management bodies were liquidated or reorganized, with 40,000 staff dismissed.

The volume of investments in 2004 increased 5.2%, including foreign investments more than twice.

18 February 2005