Baku, Azerbaijan, Oct. 8
By Fakhri Vakilov - Trend:
Uzbekistan’s government intends to achieve growth of GDP by 2.1 times by 2030, GDP per capita by 3 times (up to $4,538), increase life expectancy to 78−80 years and fully provide the population with housing, Trend reports with reference to the Uzbekistan’s Ministry of Economy and Industry.
The Ministry of Economy and Industry has published for discussion a draft Concept for the socio-economic development of Uzbekistan until 2030.
Seven priority areas of socio-economic development are identified, aimed at increasing the inclusiveness of economic growth and the transition of Uzbekistan to the number of high-income countries.
These include institutional change and macroeconomic stability; development of the real sector of the economy; Human capital development; development of innovation; development of engineering communications and production infrastructure; improving the investment and business environment; balanced socio-economic development of the regions.
According to the forecasts presented in the concept, real GDP growth should be 2.1 times (from $50.505 billion in 2018 to $176.78 billion), and GDP per capita in foreign currency - 3 times (from $1,533 to $4,538). To achieve these goals, it is necessary to maintain an average annual economic growth rate of at least 6.4 percent. The average annual inflation rate should be 4.4 percent in 2030 compared to 17.5 percent in 2018 and the expected 14.9 percent in 2020.
The achieved value of GDP per capita by 2030 will allow Uzbekistan to enter the group of countries with incomes above the average, reduce the level of tension in the labor market, ensure income growth and reduce poverty by 2 times, increase life expectancy to 78−80 years, reduce mortality by 1.5 times, as well as full satisfaction of the population’s needs for housing (20 sq. m), high-quality drinking water (100 percent) and electricity (100 percent).
The factors of GDP growth in 2018–2030 should be ensuring growth in real industry volumes by 2.3 times (an increase in the share in GDP from 26.3 percent to 33.3 percent), construction work - 2.1 times (from 5.7 percent to 6.4 percent) and the service sector — 2.1 times (from 35.6 percent to 39.3 percent) and, accordingly, a 1.8 percent decrease in the share of agriculture (from 32.4 percent to 21 percent).
The growth of the production potential of the economy should ensure an increase in exports by 3 times. To ensure economic growth, it will be necessary to increase the volume of capital investments 3.1 times and foreign direct investment - 7 times.
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