Uzbekistan's nominal GDP in 2023 amounted to $101.6 billion, taking into account the informal and shadow economy, according to a report by the International Monetary Fund (IMF), Podrobno.uz reports.
Uzbekistan's Statistics Agency and the IMF conducted a study on the size of the informal economy in Uzbekistan and its impact on macroeconomic indicators. The results were discussed at the Center for Economic Research and Reforms (CEIR), the publication notes.
Obid Khakimov, Director of CEIR, emphasized the importance of analyzing the shadow economy to identify hidden reserves, develop state policies, and integrate informal sectors into the official economy.
"These studies will not only help understand the current state of the economy but also create conditions for the legalization and integration of informal sectors into the official economy," emphasized the CEIR director.
Based on the collected data, an assessment was conducted on the size of the informal and shadow economy and its impact on GDP by sectors of the economy and regions from 2017 to 2023. This made it possible to identify the scale of the unobserved economy and its influence on overall economic activity.
The assessment showed that the country's GDP increased by 125.6 trillion soms ($10.7 billion), which allowed for a more accurate evaluation of the unobserved economy's scale and its impact on total activity.
Experts noted that bringing data in line with international standards (IMF or World Bank methodology) ensures their comparability with data from other countries. This allows for more precise analysis of economic indicators and their use in international comparisons.
CentralasianLIGHT.org
September 5, 2024