Transcribed

Uzbekistan - Fiscal indicators and augmented budget

3.8.3 Fiscal indicators and augmented budget Consolidated revenues Augmented balance Consolidated expenditures % of GDP % of GDP 12_ _44 9_ _33 _22 - 11 0_L 2008 2009 2010 2011 2012 ote: Augmented budget includes the Fund for Reconstruction and Development. Sources: International Monetary Fund; ADB estimates. 3.8.4 Current account indicators Net income Exports Imports Net transfers Net services $ billion % of GDP Current accouụnt balance 18_ 10 9_ 5 -9_ -5 -18_ --10 2008 2009 2010 2011 2012 Sources: International Monetary Fund; ADB estimates. 3.8.5 Remittances and compensation from the Russian Federation $ billion 6,000_ 4,000_ Lull 2,000_ 2008 2009 2010 2011 2012 Sources: Central Bank of Russia; ADB estimates. 3.8.1 Selected economic indicators (%) 2013 2014 GDP growth 7.5 8.0 Inflation 9.5 9.0 Current account balance 4.3 3.2 (share of GDP) Source: ADB estimates. 3.8.3 Fiscal indicators and augmented budget Consolidated revenues Augmented balance Consolidated expenditures % of GDP % of GDP 12_ _44 9_ _33 _22 - 11 0_L 2008 2009 2010 2011 2012 ote: Augmented budget includes the Fund for Reconstruction and Development. Sources: International Monetary Fund; ADB estimates. 3.8.4 Current account indicators Net income Exports Imports Net transfers Net services $ billion % of GDP Current accouụnt balance 18_ 10 9_ 5 -9_ -5 -18_ --10 2008 2009 2010 2011 2012 Sources: International Monetary Fund; ADB estimates. 3.8.5 Remittances and compensation from the Russian Federation $ billion 6,000_ 4,000_ Lull 2,000_ 2008 2009 2010 2011 2012 Sources: Central Bank of Russia; ADB estimates. 3.8.1 Selected economic indicators (%) 2013 2014 GDP growth 7.5 8.0 Inflation 9.5 9.0 Current account balance 4.3 3.2 (share of GDP) Source: ADB estimates.

Uzbekistan - Fiscal indicators and augmented budget

shared by PARMIONOVA on Apr 18

104 views

0 faves

0 shares

0 comments

The central bank continued to intervene in the foreign exchange market with the aim of depreciating the local currency—the sum—to promote competitiveness. By year-end the sum had depreciated by al... most 10% against the dollar. Fiscal policy remained broadly unchanged in 2012. The consolidated budget, including large surpluses from the FRD, is again estimated to have recorded an overall surplus, equal to 3.1% of GDP. Revenue gains from historically high prices for key export commodities (mainly precious metals) and improved tax administration offset expenditures to cover wage and pension increases and higher social outlays. Revenues equaled 36.7% of GDP and expenditures 33.6% (Figure 3.8.3). The current account surplus narrowed to an estimated 4.7% of GDP from 8.1% in 2011 as the trade surplus decreased (Figure 3.8.4). Exports of goods and services declined by 5.1%, reflecting weaker external demand and declines in international prices for Uzbekistan’s major export commodities: cotton, copper, and natural gas. Exports of cotton, foodstuffs, chemical, metals, and machinery all fell in 2012. However, an 81% rise in exports of energy products, primarily natural gas, limited the overall decline in exports. Imports of goods and services rose by 9%, as continued state-led infrastructure development and industrial modernization required more imports of capital goods and services. Remittances and compensation from abroad, included in the income account, grew sharply, particularly from the Russian Federation, which totaled $5.6 billion. This was the highest amount since independence, reflecting strong demand for construction labor (Figure 3.8.5). The government reported foreign investment inflows of $2.5 billion, mainly into oil and gas, petrochemicals, and automobile manufacturing. External debt is estimated to have increased modestly to 17.8% of GDP at the end of 2012 from 17.4% at the end of 2011, as the public investment program is increasingly being financed by foreign loans (Figure 3.8.6). Sources: National Bank of Uzbekistan - http://www.nbu.com/ , International Monetary Fund; ADB estimates .

Uzbekistan - Fiscal indicators and augmented budget

Uzbekistan - Fiscal indicators and augmented budget

You may also like...

Embed Code