The effect of covid-19 on the Uzbekistan economy

As of May 30th 2020, more than 500,000 business entities and more than eight million citizens have received benefits and preferences in the amount of about 30 trillion soms, or about $3 billion (six per cent of GDP).[3]

As of May 30th 2020, more than 500,000 business entities and more than eight million citizens have received benefits and preferences in the amount of about 30 trillion soms, or about $3 billion (six per cent of GDP).[3]

In general, Uzbekistan’s action plan to combat the current and future consequences of the global COVID-19 pandemic can be divided into four areas:

• In general, Uzbekistan’s action plan to combat the current and future consequences of the global COVID-19 pandemic can be divided into four areas:
• General economic measures;
• Measures of social support for the population;
• Measures to support entrepreneurship; and
• Measures to support the most affected sectors.

General economic measures

• General economic measures
• As noted above, the Anti-Crisis Fund was the first economy-wide step to mitigate the negative impact of the pandemic on the country’s economy. As of June 17th 2020, the income of the Fund (ten trillion soms) amounted to 7.44 trillion soms. That is, 74.4 per cent of its total amount was formed by June 17th. Of these, 7.32 trillion soms are allocations from international financial institutions, 123.5 billion soms have been channeled from the state budget, and the total amount of expenditures amounted to 3.3 trillion soms.[4] The funds were spent as follows:

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