Uzbekistan’s president urges elimination of shadow economy

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TASHKENT, July 28 (Xinhua) — Uzbek President Shavkat Mirziyoyev has instructed the country’s government to reduce the shadow economy through measures such as rating the corruption level of state bodies and enterprises, the presidential press service said Tuesday.

Mirziyoyev made the remarks during a government meeting about ongoing activities to reduce the informal economy, which has been decreased from 20 to 6 percent against the whole economy, thanks to reforms in recent years, the press service added.

However, the level of informal employment in construction, trade and public catering, transport and other sectors still remains high, the president’s office said in a statement.

It added that overall, only 4.9 million out of 10.5 million people employed across the country pay income tax.

Mirziyoyev ordered the government to critically examine its agencies and reduce any of their powers that could contribute to the risks of the shadow economy and corruption.

He also instructed the government to involve experts from international organizations to develop a strategy to reduce the size of the informal economy, the statement said.

Since Mirziyoyev took office in 2016, Uzbekistan has taken a series of measures to promote economic reforms, including liberalizing its foreign exchange market, reducing taxes and offering preferential treatment to foreign investment. Enditem

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