Uzbekistan shares plans to increase GDP

Business Materials 27 August 2021 16:02 (UTC +04:00)
Uzbekistan shares plans to increase GDP

BAKU, Azerbaijan, Aug. 27

By Fakhri Vakilov – Trend:

In the next 5 years, Uzbekistan plans to increase economic growth by 1.5 times and bring GDP to at least $100 billion, Trend reports citing Uzbek media.

It was stated by Uzbekistan’s President Shavkat Mirziyoyev during his visit to the Navoi region.

“In this regard, thousands of medium and large industrial enterprises will be launched, and the demand for electricity will reach 100 billion kW/h. This is 30 billion kW/h more than now,” the head of state said.

The President added that over the next five years, 19 energy projects will be put into operation with a capacity of 11,500 MW for $6.5 billion. In particular, by 2030 the share of renewable energy sources will exceed 30 percent.

Moreover, during this period, 70,000 km of low-voltage power lines, 22,000 transformers, and more than 100 substations are being reconstructed. To provide electricity to the regions, it is planned to build 3,000 km of new power transmission lines of 500 kW and 220 kW.

According to the World Bank, Uzbekistan's GDP in 2019 was $57.92 billion while in 2020 the figure dropped to $57.7 billion.


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