Uzbekistan lines up its key economic data with int'l standards

Source: Xinhua| 2020-11-23 19:51:41|Editor: huaxia

TASHKENT, Nov. 23 (Xinhua) -- Uzbekistan's Central Bank has restored the country's key economic data over the past six years in line with international standards with the assistance of International Monetary Fund (IMF), Jasur Fayzullakodjev, the bank's representative, said Monday.

Currently, the bank restored statistical data of the country's balance of payments, international investment position and external debt starting from 2014 in accordance with international norms, he said.

The Central Bank said that Uzbekistan's balance of payments for the first half 2020 was affected by the changes in domestic and foreign markets linked with the COVID-19 pandemic, a slowdown in global business activity, an increase in financial risks as well as a decrease in foreign trade turnover.

As a result, the account deficit of the country for the first half of 2020 amounted to 2 billion U.S. dollars and expected to be around 5 percent of GDP by the end of the year.

For the first half of the 2020, Uzbekistan's foreign debt amounted to 27.6 billion U.S. dollars and this figure is expected to grow by the end of the year as the country attracts more investment following the years of economic isolation, according to the bank official. Enditem