01/11/11 - Cabinet of Ministers of Uzbekistan holds session

Дата публикации: Jan 15, 2012 1:50:7 PM

The Cabinet of Ministers of Uzbekistan held a session on 27 October to consider a number of important financial, economic and program documents on the development of the country for the next year: the forecast of key macroeconomic indicators, the concept of tax and budget policy, the draft state budget and the Program of job creation and employment of the population.

The government analyzed and approved the proposals of the central economic and financial bodies on the forecast macroeconomic indicators for 2012, which envisage preservation of the steady and stable GDP growth, volumes of industrial production, agriculture, investments and service sphere.

It was noted that the concept of tax and budget policy and the draft state budget stipulate implementation of measures aimed at further positive changes in the living conditions and standards, increasing the wages of state-financed employees, pensions, allowances and stipends, as well as stimulating domestic demand as a key factor for sustainable economic growth.

Measures to stimulate production of consumer goods, including through extending tax benefits previously provided to manufacturers, expansion of road construction and rural housing construction were also discussed, UzA informs.

To support the accelerated development of small and private businesses in industry is planned to reduce the uniform tax payment from 6% to 5% for micro firms and small enterprises These and other measures included in the concept of tax policy will lead to reduction of the tax burden on the country’s economy by 0.7 percentage points in 2012.

The Cabinet approved the macroeconomic parameters forecast, the main directions of tax and budget policy and the draft state budget of Uzbekistan for 2012. These documents will be sent to the Legislative Chamber of the Oliy Majlis of Uzbekistan.

The government also considered the results of the activities to create new jobs in the current year and the draft Program of jobs creation and providing employment for 2012.

During January-September 2011, 815,500 new workplaces were created in the country, including 512,400 in rural areas. The highest employment rates were recorded in construction, communal and service spheres, trade and catering, transport and communications.

The 2012 program is based on the analysis and assessment of needs in the workplaces in the labor market, taking into account demographic factors and the continuing structural reforms in the economy. A particular attention in the program is paid to employment of youth, primarily graduates of professional colleges.

The draft employment program envisages creation of additional 967,500 new jobs next year, including through creation of new and expansion of existing production facilities, development of industrial, social and market infrastructure, small business and private entrepreneurship and expansion of home working, as well as restoration of inactive companies.