The Committee on budget and economic reforms of the Legislative Chamber held an expanded session to discuss execution of the state budget in the first half of 2015.

It was noted that the GDP of Uzbekistan grew by 8.1% in the reporting period, industrial production – 8.1%, agriculture output – 6.5%, capital constrictions – 18%, services – 13.1%, retail trade turnover – 14.8%, the Legislative Chamber said.

The session also considered implementation of investment policy, structural reforms and modernization and diversification of production capacities, development of transport and communication infrastructure, etc.

It was noted that Uzbekistan attracted 490 new enterprises to export operations, which helped to increase the volume of exports by 7.4%.

Share of private sector in industry reached 31.4%, retail trade- - 86.3%, paid services – 47.6%. Share of small businesses in employment of population is 77.2%. Some 441,800 new jobs were created in Uzbekistan in the first half of 2015.

About 59.2% of expenses of the State Budget were directed to social sphere. The ratio of these expenses to the GDP was 13.9%. About 57.8% of expenses were directed to maintain and develop education sphere.

Uzbekistan also implements measures to reform and develop healthcare system. About 23% of expenses to social sector were directed to this sphere, which rose by 13.3% year-on-year.

The participants also discussed untargeted and inefficient use of the resources of the state budget. The growth of accounts receivable and bill payables in some industries of economy, as well as untimely payment of resources to the state budget were criticized. The committee adopted the corresponding decision on considered issue.