International experts say that 2023 will be very difficult for the global economy. Deputy Prime Minister - Minister of Economic Development and Poverty Alleviation Jamshid Kochkarov announced this at the meeting of the Legislative Chamber of the Oliy Majlis.
Kochgarov underlines a number of changes expected to occur in the economy of Uzbekistan in 2023.
"GDP may reach $2,200 per capita"
International experts say that 2023 will be very difficult for the global economy. Nevertheless, we hope that the next year will be full of very positive results for us. In 2023, the economic growth of Uzbekistan is forecasted to be 5.3 per cent. The GDP is expected to exceed $2,000 per person and reach $2,200 for the first time.
By the end of 2026, we aim to reach the GDP of Uzbekistan to 100 billion dollars. It’s a good figure. Because foreign investors are first interested in the GDP of the country. This is called the scale effect. This is a very important issue.
"Inflation will decline in 2023"
The pandemic in 2020, and its ripple effect in 2021, and further international conflicts in 2022, in general, may lead the countries to dry out for 3 years.
In 2021-2022, the rating of 26 countries decreased. This year, we expect 5.7 percent economic growth. All our ratings remain stable. Curbing inflation is one of the important tasks in the coming year.
This year, annual inflation is 12.3 percent, and next year it is forecast to be around 9.5 percent.
"Gold production spikes"
The share of industry in GDP increased from 21 percent to 28 percent.
The volume of gold production has gone up from 87 to 105 tons, and copper from 110,000 tons to 148,000 tons in the last 5 years respectively.
"Electricity and natural gas market will be created"
It is slated to commission a private power plant with a capacity of 1.3 gigawatts in 2023 and a 4.7-gigawatt station in 2024. Five years ago, we did not have a single private power plant. In 2023, their share will reach 18%.
If the market is opened, the production volume of natural gas and electricity will increase due to investment. There is no other way. We do not have the opportunity to implement such large funds at the expense of increasing the state debt.
It is obvious that something needs to be done about tariffs on electricity consumption. But I can assure you that the segments of the population that need social protection will not notice this change at all.
"There are more income taxpayers now"
This year, the liberalization of the grain market in agriculture was a great achievement. The profit of grain growers increased from 3.3 trillion soums to 8.3 trillion soums. Before the grain ripens in May, the retail price of flour was 5,600-6,000 soums, now it is around 5,300 soums. Appropriate measures are being taken in food supply.
In 2022, the number of income taxpayers increased by 400,000. That is, in total, they reached 5.1 million people. Five years ago, the number of such taxpayers was 3.8 million.
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