Uzbekistan introduces system to assess socio economic development in regions

Business Materials 1 May 2012 17:23 (UTC +04:00)

Uzbekistan, Tashkent, May 1 /Trend D.Azizov/

The Cabinet of Ministers of Uzbekistan adopted a system of quarterly assessment of the business environment and the level of socio-economic development in the Republic of Karakalpakstan, in the regions and in Tashkent.

The system, the introduction of which is scheduled from July 1 this year, will include six groups of indicators in accordance with the decree: indicators of macroeconomic equilibrium, the level of modernization and economic diversification, development of the private sector, development of financial and banking sector, social development in the region, as well as indices of the level of formation of the business climate (the index of the competitive environment and the index of the business environment).

Each of these groups includes several types of indicators, to which, according to the method of calculation will be imposed rating from 1 (poor growth) to 4 (significant increase).
The system of indicators has been developed by the Ministry of Economy together with the State Statistics Committee, the Central Bank, State Antimonopoly Committee and the Institute of Forecasting and Macroeconomic Research under the Cabinet in order to create a favorable business climate, system analysis of the dynamics and evaluation of the level of the business environment.

Institute of Forecasting and Macroeconomic Research under the Cabinet of Ministers of the Republic instructed to conduct a quarterly survey on a representative sample of businesses in each region to assess the business environment.

Rating of each region with a regular issue of Economic Review and its representation in the Cabinet of Ministers not later than the 15th day of the month following the reporting quarter will be determined after compiling and monitoring results.