Uzbekistani economic growth intensifies

Over the last six months, Uzbekistan has increased its gross domestic product by 6.2%, which is 1.6 times or 3.8% higher than in 2003 over the same period. This was said at a cabinet session on Friday, dealing with socio-economic performance over six months in 2004.

The high indicators are due to the increased production of consumer goods, gross farming output, retain trade and paid services. In particular, manufacture of industrial products increased by 9.6%. In transport and communication, the increase is 7.6%, in agriculture - 10.4%. The 2004 state purchases of grain-crops will be securely met.

The foreign trade turnover grew by 24.5%, gross export volume by 25.2%. The foreign trade surplus was $689.1 million.

Economic growth and subsiding inflation ensured an increase in the real incomes of the population, which was estimated at 16.7%.

The rate of privatisation sped up as well in the first half of the current year. The number of joint-stock companies with state participation in the authorised capital has dwindled two times. All in all, 1,132 state enterprises were put into private hands, or twice as many as in the first half of 2003.