Uzbekistan plans to increase GDP to $100 billion in 2024

Under the chairmanship of President Shavkat Mirziyoyev, a videoconference meeting is being held on the priority tasks of ensuring macroeconomic stability and economic development in 2024, Azernews reports, citing Kun.uz News Agency.

At the meeting, the president defined the priority tasks for the development of the economy in 2024.

This year, it is planned to increase the gross domestic product by at least 6% and reach $100 billion.

However, last year the industry grew by 6%, but it was shown that the value added in production did not exceed 40%.

“We are not satisfied with these numbers. These are mainly due to dependence on imports and high energy consumption, as well as excessive costs,” the head of state said.

Although the tax burden on large industries has been reduced, it was noted that many industries are increasing their costs instead of providing revenue to the state. In particular, it was observed that expenses grew faster than income in 10 large enterprises.