The current state of economic development has been analyzed and additional measures have been identified

President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting on March 23 to discuss measures to ensure economic stability.

"During the coronavirus pandemic, our decision to take all sectors out of the crisis has paid off. Even in this situation, we need to anticipate the risks. We need to take concrete steps to ensure that world events do not have a negative impact on outcomes. In particular, we need to create conditions for entrepreneurs and provide them with all possible support,” the President said.

Therefore, the meeting analyzed the current state of economic development and identified additional measures.

The Ministry of Economic Development and Poverty Reduction and the Ministry of Investment and Foreign Trade have been instructed to establish a daily dialogue with entrepreneurs to promote their projects, production activities, and export-import practices.

The President also touched upon the issue of exports and instructed the exporting companies to address the issues of transport and logistics, to expand the practice of partial reimbursement of transportation costs.

The Cabinet of Ministers has been given additional instructions to meet the needs of the population by ensuring price stability in the domestic market and assisting entrepreneurs importing wheat, vegetable oil, sugar and other food products.It was also reiterated that the main task of the Government is to reduce inflation and ensure its rapid return to targets.

Given the uncertain situation in the foreign exchange market, the central bank was stressed the importance of taking a cautious approach to ensuring the stability of the domestic foreign exchange market and exchange rate flexibility. It was noted that the situation in the domestic foreign exchange market should be monitored on a daily basis, and entrepreneurs, as well as our people in general, should be informed about the current situation, expected changes and measures to be taken.