Measures to reduce the inflation rate discussed

President Shavkat Mirziyoyev chaired a meeting on reducing inflation this year.

Inflation is not only a macroeconomic indicator, but also a factor affecting the income and standard of living of the population. In 2022, inflation in Uzbekistan amounted to 12.3 percent. This year, using all economic mechanisms, it is planned to reduce this figure to below 10 percent.

It was emphasized that for this it is necessary to increase the volume of production of consumer goods, including food products, reduce the cost of their logistics “from field to table” and ensure their affordability. Instructions were given on the effective use of 200,000 hectares of land allocated to the population to increase agricultural production.

For the systematic organization of these events, the task was to develop separate roadmaps for each district and city based on the potential of the regions.

It was noted that in increasing the income of the population, it is important to attract their free funds to the financial market.

The opportunities created in this direction are yielding results. In particular, the volume of bank deposits of the population over the past three years has doubled.

However, there are still many untapped opportunities in this sphere. In this regard, instructions were given to expand the types of financial services attractive to the population.