BAKU, Azerbaijan, August 13
By Jeila Aliyeva - Trend:
The Uzbek economy grew 6.2 percent year-on-year in 1H2021, Trend reports with reference to the Bluestone investment bank Uzbekistan Macroeconomic Quarterly Review.
As reported, increases in information and communication (19.9 percent), transportation and storage (13.4 percent), hospitality and dining (11.9 percent), wholesale and retail trade (9.1 percent), and manufacturing (8.6 percent) contributed to the positive results.
“Uzbekistan’s construction boom slowed in 1H2021, growing just 0.1 percent after registering 0.5 percent growth in 1Q2021 and 9.2 percent growth in 2020. Nevertheless, the number of companies operating in the construction sector increased 13 percent YoY and 35 percent since 1H2019, with the highest growth rates among companies engaged in general building (11 percent), public and government construction (15.9 percent), and specialized construction projects (15.7 percent),” said the report.
As a result of GDP growth, revenues for the state budget increased 28.7 percent in 1H 2021, with income tax receipts rising 57.6 percent. Gold and copper mining enterprises accounted for 67.8 percent of total income tax receipts.
As reported, the Central Bank of Uzbekistan improved its forecast for the growth of the gross domestic product of Uzbekistan to 5.8 percent - 6.8 percent.
According to the CBU, other macro indicators - consumption, investment, exports, and imports - are expected to grow faster.
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