Uzbek economy grows by 7.2% year-on-year in 2006

Gross Domestic Product (GDP) of the Republic of Uzbekistan increased by 7.2% year-on-year in 2006, President of Uzbekistan Islam Karimov said in his New Year address to the nation.
Uzbek head said that the export of the country increased by 30% and old and foreign currency reserves rose by 33% in 2006. The volume of state budget grew by 27%.

President Islam Karimov noted that the real wages of workers, pensions, student grants and welfare payments increased by 36%, and the inflation rate - the growth of prices - was less than 7%.

According to the state budget of Uzbekistan for 2007, the country expects growth of economy by 7.7% in 2007, while industrial and agriculture output will increase by 7.8% and 5% respectively.

The growth of volume of investments in the country forecasted at 8.1% year-on-year. The rate of inflation will decrease up to 5-7% in 2007, real incomes of the population will be raised at least by 17%.