NEWS AND EVENTS
May 19, 2005
Uzbekistan can achieve more economic growth - IMF
International Monetary Fund (IMF) notes Uzbekistan achieved important economic growth in recent years and calls for further reforms.
On 18 May, IMF organised videoconference for Uzbek mass media representatives on its report World Economic Outlook Globalisation and External Imbalances, in particular development of Eastern Europe and Central Asia.
The organisation noted that the Central Asian states achieved impressive success in decrease of inflation level thanks to correct monetary-credit policy and budget-tax policy in conditions of high prices to raw materials.
IMF experts said that important achievements of Uzbekistan in last several years are introduction of convertibility on current international transactions, development of farms and consolidation of state budget in 2004.
The fund said that introduction of convertibility resulted in stirring up export-import relations, while development of farms allowed to stimulate agriculture production. All these positively affected to Uzbek economy, the IMF experts said.
The IMF experts said that achieved economic growth in 2004 is not limit for Uzbekistan. The country should further deepening reforms in all spheres, including liberalisation internal and external trade, to ensure economic growth and low inflation level.
Julian Berengaut, deputy director of IMF on Middle East and Central Asia, said the reforms should not limit with temporary frames and pay attention in quality aspects.