Uzbekistan is economically the fastest-growing country in Central Asia. Anna Byerde, vice president of the World Bank, announced this at a forum in Samarkand, "Daryo" correspondent reports.
Anna Byerde said that it is important to implement a number of reforms to accelerate the country's economic growth.
"Now there are many uncertainties in the world economy. We studied what changes will happen in Central Asia in 2022. We observe that the economic growth in the entire region is 0.2 percent. Export of products in the region is growing very fast. In particular, the flow of Russian citizens to the region has produced economic growth. But we expect financial conditions to be more serious.
Uzbekistan is the fastest-growing country in Central Asia. Its economy is growing by 4.9% per year. The republic is in the process of entering the ranks of middle-income countries by 2026.
In Uzbekistan, the Tax Code made the budget more transparent. Fiscal measures have led to a reduction in public debt. After the creation of the social protection system, it became known that the number of families receiving social assistance in the country doubled. This year, less than 5 percent of the population of Uzbekistan is rising from the bottom to the top of the global level.
However, there is still a lot of work to do. It is necessary to support the private sector. It is necessary to reduce the cost of trade. Prices should be liberalized. The quality of education and health care should also be given a strong focus. I want to assure you that we will help Uzbekistan."
Speaking at the forum, Vice President of the Asian Development Bank, Shixin Chen, said that financial assistance in the amount of 500 million dollars will be allocated to Uzbekistan to support the economy and the population in need of social protection.
"These funds will be directed to social protection, health care and other areas," he said.
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