Uzbek economy to grow by 7.8%, predicts President

President Islam Karimov Uzbekistan

President Islam Karimov Uzbekistan

Uzbek economy: Uzbekistan is expecting to receive an equivalent of $17.3bn in capital investment in the coming year, 23.5% of which will be from FDI, Uzbek President Islam Karimov said in his New Year address to the nation. The country’s economy would grow by 7.8% and real per capita income by 9.5%, he predicted, with government expenditure for the social sector, including education, science, healthcare, culture, sports, and social welfare also budgeted to grow. 164 large industrial facilities worth a total of $5.5bn are due to be completed or commissioned, including two 450 MW gas turbines at the Talimarjan thermal electric power plant, a 150 MW generating unit at the Angren power plant, and a smelter for 70 thousand tons of copper per year at the Almalyk mining and metallurgical plant.

Kamchik mountain pass Uzbekistan

Kamchik mountain pass Uzbekistan

 2016 will also see Uzbekistan’s Chinese partners help complete a railway tunnel through the Kamchik mountain pass, the high-speed rail line from Tashkent to Samarkand extended to Bukhara.