On March 23, President of the Republic of Uzbekistan Shavkat Mirziyoyev chaired a meeting on measures to ensure economic sustainability.

“The decisions taken during the coronavirus pandemic to bring all spheres out of a difficult situation have yielded results. In the current situation, we must be able to anticipate risks. We need to identify concrete measures so that events in the world do not negatively affect the results. It is necessary to create conditions for entrepreneurs and provide them with all possible support”, the President said.

The current state of economic development was analyzed and additional measures were identified.

The Ministry of Economic Development and Poverty Reduction and the Ministry of Investments and Foreign Trade were instructed to establish a daily dialogue with entrepreneurs, to help their projects and export-import operations.

It was instructed to conduct daily monitoring of industries and regions, promptly take measures to prevent potential risks. The importance of further simplification of the system of revolving credit of enterprises for replenishment of working capital was noted.

The President also touched upon the issues of export, gave instructions on solving the transport and logistics issues of exporting enterprises, partial compensation of their transportation costs.

As is known, there are global problems with the supply of food and significant fluctuations in prices for them. Therefore, the Cabinet of Ministers was instructed to meet the needs of the population by maintaining price stability in the domestic market, assisting entrepreneurs who import wheat, vegetable oil, sugar and other food products. It was noted that the main task of the Government is to reduce inflation and ensure that its indicators return to the target as soon as possible.

The Central Bank was instructed to apply, taking into account the uncertain situation in the external foreign exchange market, a cautious approach to ensuring the stability of the domestic foreign exchange market and exchange rate flexibility. It was noted that it is important to monitor the situation in the domestic foreign exchange market daily and inform entrepreneurs and the general public about the current situation, expected changes and measures taken

Source: UzA