Uzbekistan has reached progress in inclusive growth

19.05.2015

Uzbekistan has reached progress in inclusive growth

On May 19, 2015 Center for Economic Research held a Media Briefing for journalists on launching "Economic and Social Survey of Asia and the Pacific 2015." The Survey was prepared by the UN Economic and Social Commission for Asia and the Pacific (ESCAP).

Presentation of the Survey is carried out in all countries of the region with the participation of representatives of mass media, local analytical and academic centers, as well as universities. The presentation started with a video message from United Nations Under-Secretary-General and ESCAP Executive Secretary, Dr. Shamshad Akhtar, who indicated the main trends in the development of the Asia-Pacific region, the challenges of sustainable development, and measures which countries could take to minimize their negative effects.

Inclusive economic growth is required to achieve sustainable development in the Asia-Pacific region. Regional growth is expected to rise only slightly to 5.9% this year, from 5.8% last year, with no significant change expected in 2016. Inflation is also forecasted to further decline and remain low, largely due to lower international oil prices, which have led to interest rate cuts in many economies of the region.

To enhance well-being, countries need to go beyond just focusing on “inequality of income” and instead promote “equality of opportunities.” To reverse the trend of widening socioeconomic disparities, ESCAP recommends that public expenditure be more development-oriented, particularly to enhance access to quality education and healthcare, and to strengthen social safety nets. Equitable access to finance, water and energy is also vital.

During the Media Briefing, CER experts presented not only the results of ESCAP Survey of countries in the Asia-Pacific as a whole, but also elaborated on the characteristics and prospects of inclusive development in Uzbekistan. According to the Second National Millennium Development Goals Report (represented on April 30, 2015), Uzbekistan has achieved significant progress in 2000-2013. It was accomplished with the help of model of economic growth, based on deep structural reforms, large-scale investments of the state in the development of social sectors; stimulating the dynamic development of the small and private entrepreneurship sector, and implementation of regional development programs. As a result, despite all the challenges associated with the instability of the global economy, Uzbekistan has managed to keep a balance between the most important key development objectives: economic growth based on structural reforms and improving the welfare of all population strata.

Please, find attached the Agenda (Russian), the script of video message by Dr.Shamshad Akhtar, and CER presentation (Russian).

Photos from the event are available on CER official Facebook page.

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