The Central Bank talked about the development of the economy of Uzbekistan for the first six months: everything seems to be fine

In January-June 2018, the increase in the consumer price index (CPI) in December of the year 39, previous year was 6.2% (7.2% in 19459020) January-June 2017). The monthly CPI momentum for the first half of 2018 indicates a gradual slowdown in price growth from 2.7% in January to -0.4% in June

Compared to the same period of the year 39, the year before, the structure of inflation has changed a lot. In the first half of 2017, food prices contributed most to inflation and, in the first half of this year, growth halved to 4.6%, while tariff growth doubled to reach 8%. As a result, in 1945, non-food product prices and service tariffs became the "drivers" of inflation.

Despite the general downward trend in prices, the economy maintains relatively high inflationary pressures, due to the rise in regulated prices.

Inflationary expectations of the population and businesses in the short term have tended to decline, while long-term expectations, for example

Monetary Policy

The money market interest rates in the second quarter of 2018 ranged between 12.7 and 13.1 percent, reflecting a change in the availability of liquidity in the banking system.

The implementation of a new mandatory reserve order has prevented the growth of liquidity in the banking system badociated with an increase in the external badets of the Central Bank. It should be noted that the balanced fiscal approach of the Ministry of Finance has, to some extent, helped to contain the growth rates of liquidity and money supply.

The real interest rates on loans have increased at an accelerated pace. mainly because of the scale expansion of subsidized loan programs.

In the first half of 2018, credit investment balances rose 21.5 percent. As a result, in the second quarter of 2018, the money supply growth rate accelerated compared with the previous quarter and the money supply increased by 5.8% in the first half of the year [19659013]. Savings volume growth and term deposits in the liabilities structure of banks, which increased by 40 and 27%, respectively, compared with the beginning of the year. In the context of the increase in the supply of foreign exchange in the second quarter of 2018, the exchange rate of the national currency has increased by 3.1%.

Economics and Investment

Economic Growth of Countries – Main Trading Partners and Favorable Context The key export positions of the republic provided balanced conditions in the external sector.

In the first half of 2018, there was sustained economic growth, which was based on accelerated growth in the sphere of services and industry

Preliminary estimates by the Statistics Committee of 39, state, in January-June 2018, the gross domestic product increased by 4.9%. The growth in the number of businesses and organizations that, for the period January-June in 2018, increased by 7.3% or 20.7 thousand

During the reporting period, the volume of capital investment increased by 13.4%% In the context of the high activity observed in the economy, the possible expansion in the second half of 2018 programs public for the development of entrepreneurship, individual sectors and regions can give an extra boost. acceleration of economic growth

In the short term, some increase in inflationary pressures may be badociated with an increase in investment and demand [ad_2]
Source link