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Uzbekistan to reduce state participation in business

Business Materials 11 May 2018 18:00 (UTC +04:00)

Baku, Azerbaijan, May 11

By Fikret Dolukhanov – Trend:

The Economy Ministry of Uzbekistan worked out a forecast on social and economic development on 2019-2021 aimed at timely and qualitative improvements in various spheres of the country, Uzbek media reported.

Reportedly, specialists of the ministry proposed to create interdepartmental and regional workgroups.

The forecast concept provides for work in various directions, such as microeconomic strengthening, reforming monetary and credit policy, increasing stability of banking system and reforming taxation.

The ministry also intends to optimize state expenditures, present more independence to local budgets, give more freedom to small business and reduce state participation in entrepreneurship.

Other measures are aimed at development of social sphere and include protection of low-income strata of population, expansion of housing, and decrease of unemployment.

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