Home
/
News
/
In 2013 Uzbekistan's GDP growth at 8%

In 2013 Uzbekistan's GDP growth at 8%

20.01.2014
UzReport 20.01.2014

     On January 17 was held the Cabinet of Ministers meeting, on socio-economic development in 2013 and the main priorities for 2014, in which the President of Uzbekistan delivered a speech.
     In his speech, President Islam Karimov stressed that, despite the slowdown in the global economy, in 2013 Uzbekistan's GDP grew for 8%, industrial output - 8.8%, agricultural output - 6.8%, with budget surplus, and the trade surplus amounting to $1.3 billion.
     The share of industry in GDP exceeded 24%. Mechanical engineering and metal processing grew by 121%, building materials industry by 113%.
     In 2013, 26 thousand new businesses were launched, and their total number reached 190 thousand.
     Exports, despite a number of instability factors in the world markets, also rose by 10.9%, businesses accounting for 18% of these exports. The establishment of the Fund for the Support of export activities of businesses and entrepreneurs and its regional branches opened new opportunities for exports. Within a short period, the Fund contributed to signing of 153 contracts worth $56million.
     The share of agriculture in GDP of Uzbekistan decreased - in 2013 it was 16.6%, whereas in 2000 it accounted for one third. The production of milk and meat in comparison with 2000 doubled, potatoes and vegetables - more than 3 -fold.
     Speaking about the Uzbek financial market, the President noted that the capitalization of banks in 2013 increased by 15%. Capital adequacy ratio exceeded 24%, while the Basel Committee set it at 8%.
     In 2013 as part of the investment program, $13 billion of investments was drawn, 70 % of these funds were allocated for the construction of production facilities. The Fund for Reconstruction and Development of Uzbekistan has favorably affected the investment climate in the country, through financing of major construction and infrastructure projects in collaboration with foreign partners. The Fund's assets over several years exceeded $15 billion
     In 2013 were completed 150 projects worth $2.3 billion in electric power, metallurgy, transport, development of economic zones in Navoi, Angren and Djizzak.
     530 kilometers of public roads were built and reconstructed, significant railway sectors were electrified.
     The Head of State focused on employment issues, stating that in 2013 were created 970,000 jobs, with 60% - in rural areas.
     Also, 10,000 families in rural areas got new houses in 2013.
     Hundreds of schools, colleges, high schools, sports facilities were built or reconstructed.
     2013 was also marked by transition to a system of family medicine, which was an important step in the further extending of health care reforms. Investments in this area in 2013 exceeded those in 2010 by 3.8 times.
     Today, there are over 40 cars in every hundred families, in 2000 there were 20. The difference between the highest and lowest income is eightfold. The average pension is by 30% higher than an average salary.
     Presenting the priorities for 2014, Uzbek President stressed the need to maintain GDP growth, reduction of tax burden, Central Bank refinancing rate from 12% to 10%, implementation of major projects such as Surgil, Shurtan Talimardjan TPC and others.
     This year 60% of the budget will be allocated to the social sector. In 2014 with Korean partners will be built the only and largest in the CIS Children's Hospital.
     In the second part of the meeting members of government, heads of ministries and agencies presented reports on development of new product types, coordination of activities in regulation of market competition, creation of balanced working conditions, through the prism of real demand and supply.

NBU technical support

online

Message sent

Return to the list of topics



How useful was the answer?

NBU support service

I am your virtual assistant.

NBU support service

Choose the topic of interest

To unblock the card, you must contact the bank branch where the card was opened  with your identity document.

SMS notification for the Uzcard card can be activated through an ATM. SMS notification for the Humo card is activated through the bank branch where the card was opened.

You can order all cards in national and foreign currency remotely using the Milliy App.

If you have forgotten your card PIN, please come with your identity document to the bank where the card was opened.

If you the card (UzCard/HUMO) is lost, you can block it yourself using the Milliy Bank App or call (78) 148-00 10 and ask the operators to block the card.

The identification procedure is carried out remotely, directly in the Milliy application itself. To do this, on the main screen in the application, click on the icon in the upper left corner, and then select the “Identification” option from the menu and go through all its stages.

To change the phone number registered in the Milliy App, please come to the NBU branch which is convenient for you with your identity document.

An e-wallet is a system to store funds, as well as transfer money through an app to an account or bank card.

When you reset your password, you enter the "secret question answer"

Currently, the NBU offers the following international money transfers: Western Union, MoneyGram, KoronaPay, Asia Express, Contact, Swift.

Users of the Milliy Mobile App can receive transfers from Russia using the Sberbank Online service to an electronic wallet in national currency, to an UzCard or HUMO card of the NBU.

The transfer is made in rubles. Upon receipt on an electronic wallet or card, it is automatically converted into UZS. No additional fees are charged.

Visa Direct is a service for money transfer using the Milliy Mobile App to more than 50 countries of the world, including Visa cards of Uzbekistan banks.

identity document

MTCN or the tracking number

full name of remitter

country of remitter

NBFAUZ2X

It is possible to remotely open, replenish and independently monitor the NBU's deposits using the Mobil App.

If you want to transfer the right to dispose of your deposit to a third party, you must execute a power of attorney certified through a notary office.

No, you don't. The online deposit can be closed through the app.

Capitalization is the addition of accrued interest to the principal amount of the deposit.

This is the deposit with no fixed withdrawal period and the depositor can withdraw the funds at any time.

- Passports of founders, director, chief accountant;

- Order for Director’s appointment;

- Certificate of state registration;

- Decision of founders;

- Licenses;

- Cadastre file/ data sheet for the collateral;

- Photo of the collateral;

- Contract with the supplier;

- Copy of the rental agreement/ certificate

- Certificate of ownership for the premises used for business;

This list is not exhaustive for loan consideration and the consideration and Bank staff may request other information and documents regarding project concerned.

How long does it take for the application to be processed?Time for processing takes 1-3 days depending on the completeness of the documents submitted.

Various collateral, including real estate, motor vehicles, as well as sureties of individuals or legal entities are accepted.

Penalty-free early repayment of the loan is permitted

The period of registration of the company at the time of filing the application must be more than 6 months.

It's worth noting that insurance and collateral costs may be in addition to the principal interest for the loan. However, there are no hidden costs.

- Constituent documents of the company (charter, registration certificate)
- Documents confirming the authority of the company's representatives
- Vehicle Purchase Agreement
- Documents confirming ownership of the collateral property (if a collateral is required)

- Professional Consultation and Support: Our specialists are always ready to provide professional consultation and support at all stages of the process, helping clients maximize the benefits of the offered loan products.
- Flexible Terms: Option to choose the optimal term and loan amount.
- Ease of Application: Minimal document requirements and a quick application review process.
- Business support: Financing that helps to renew the car fleet

The NBU aims to ensure a fast and efficient application review process. The average review period for an auto loan application for legal entities is 3 to 5 working days

The collateral can be the new car being purchased

The option to purchase new vehicles from official dealers

Time for processing takes 1-3 days depending on the completeness of the documents submitted.

Various collateral, including real estate, motor vehicles, as well as sureties of individuals or legal entities are accepted.

Penalty-free early repayment of the loan is permitted

The period of registration of the company at the time of filing the application must be more than 6 months

It's worth noting that insurance and collateral costs may be in addition to the principal interest for the loan. However, there are no hidden costs

Answer:
- Passports of founders, director, chief accountant;
- Order for Director’s appointment;
- Certificate of state registration;
- Decision of founders;
- Licenses;
- Cadastre file/ data sheet for the collateral;
- Photo of the collateral;
- Contract with the supplier;
- Copy of the rental agreement/ certificate
- Certificate of ownership for the premises used for business;

This list is not exhaustive for loan consideration and the consideration and Bank staff may request other information and documents regarding project concerned.