“Gasoline Prices Soar 19% Despite Exemption from Excise Duty” – Shavkat Mirziyoyev
President Addresses Rising Gasoline Prices and Inflation Concerns
At a recent meeting focused on ensuring macroeconomic stability and economic development, President Shavkat Mirziyoyev raised concerns about the rising prices of gasoline in Uzbekistan.
The president highlighted that measures were taken at the beginning of last year to stock sufficient amounts of gasoline and exempt it from excise tax for a year to prevent price increases. However, despite these efforts, gasoline prices have increased by an average of 19% over the past year, attributed to rising costs of transportation, production, and exports.
“Inflation is a tax on the income of individuals and businesses. If we don’t curb it, there will be no poverty reduction or economic growth,” President Mirziyoyev emphasized, underscoring the detrimental impact of inflation on the overall economy.
The president also noted the likelihood of rising food prices worldwide in the coming year and stressed the importance of increasing the quantity of food production to prevent food inflation.
To address these concerns, it was announced at the meeting that a special government resolution will be adopted annually to increase production output. Additionally, curbing inflation will be a top priority, with the first issue brought up for discussion at every government meeting dedicated to this topic.
The government’s proactive approach to addressing inflation and rising gasoline prices reflects their commitment to mitigating economic challenges and ensuring sustainable development for the country.
