OREANDA-NEWS. Uzbekistan expects that gross domestic product (GDP) will grow by 8% in 2015, the President of Uzbekistan Islam Karimov stated at the session of the Cabinet of Ministers of Uzbekistan on 16 January 2015.

Islam Karimov said that the growth of GDP in 2015 expected at 8%, industrial output - 8.3%, and agriculture products - 6%.

Uzbekistan plans to increase production of consumer goods by 11.7%, including food products - 11% and non-food products - 12.1%. The service sector will grow by 15.6% and its share in GDP will grow to 54.5%, President Islam Karimov said.

Uzbek head said that expected inflation rate made up 5.5-6.5% in 2015, which is significantly lower than in 2014.

The volume of capital investments is expected at the level of over USD 15.96 billion with the growth rate of 10.1% compared to 2014 and share in GDP - 23.1%. About 74.5% of investments will be used to construction of production capacities and 43.1% - purchase equipment. The volume of foreign direct investments will exceed USD 3.5 billion and their share in total investments will be 22.1%. Share of FDI will grow by 11.2%, President Islam Karimov said.

He said that high economic growth will be supported by implementation of balanced and well-thought tax and monetary-credit policy directed at decreasing tax burden to economy and stimulating activities of business entities.

He said that base income tax is decrease to 7.5%. Single tax payment for construction enterprises will fell from 6% to 5%.