ORDER OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of August 1, 2006 No. 344-P

For the purpose of the most complete accounting of newly created value added according to the commonly accepted international approaches and standards, further enhancement of the methodology of calculation of gross domestic product and practice of its application, and also objective and comprehensive reflection applied in the republic in reporting and forecast macroeconomic parameters of the processes connected with the happening structural transformations in national economy:

1. Approve the Methodical provisions developed by the State committee of the Republic of Uzbekistan according to the statistics and the Ministry of Economics by calculation of gross domestic product, according to appendix, the systems of national accounts based on the commonly accepted international methodology.

2. To the state committee of the Republic of Uzbekistan according to the statistics:

when calculating gross domestic product to provide strict observance of the approved Methodical provisions;

based on critical evaluation of data application of Methodical provisions in practice to make in the Cabinet of Ministers specific proposals on their further enhancement.

3. To provide to the Ministry of Economics, the Ministry of Finance, the Central bank of the Republic of Uzbekistan, other interested ministries and departments timely submission of information requested by Goskomstat of the Republic of Uzbekistan for carrying out calculations of gross domestic product.

4. Control over the implementation of this order to assign to the Deputy prime minister of the Republic of Uzbekistan Azimov R. S.

Appendix

to the order of the Cabinet of Ministers of the Republic of Uzbekistan of August 1, 2006 No. 344-F

Methodical provisions by calculation of gross domestic product

This technique is developed in pursuance of the resolution of the Cabinet of Ministers of December 15, 2003 N 547, Item 8 and contains the basic principles and methods of forming of the main macroeconomic indicator - the gross domestic product (GDP).

Conceptual basis of technique is the methodological System of National Accounts standard (the satellite navigation system 93), approved by the UN, the IMF, OECD, MB, KES and accepted in all countries with market economy.

The technique provides carrying out calculations of GDP in annual (the disaggregated calculations) and the quarter mode (operational estimates) which are based on real opportunities of receipt of initial information for calculation of all aggregates GDP.

Gross internal product - the summary generalizing indicator of development of economy which represents resulting effect of productive activity during certain period of time.

Assessment of GDP is made in current prices (nominal GDP) and in the comparable prices (real GDP) for calculation of index of physical amount (growth rate) and index of deflator of GDP. As base for comparison for the purpose of accounting of active structural changes in economy the corresponding period of last year is used.

The technique provides GDP assessment production metodomkak the amounts of value added of industries of economy. This method is one of three existing evaluation methods of GDP constituting basis of creation of system of national accounts.

GDP is created on the basis of the principle of cyclic consideration: it is step by step specified according to procedure and dates of receipt the State committee of the Republic of Uzbekistan according to the statistics of massifs of basic information. Calculations of the initial stage are based on the data of the current reporting and provisional estimates. The corresponding results are intended for operational assessment of total amount and tendency of change of indicator of GDP, further calculations are specified on the basis of receipt of wider information base.

Other principle of creation of indicator of GDP is the balanced combination of the enclosed estimates of various frequency (annual and quarter).

The main indicator of GDP is annual assessment where the greatest coordination of indicators of production on various industries of economy, use of products and services on consumption and accumulating, and also processes of forming of the income is reached.

Quarter estimates of GDP are developed for the characteristic of the current economic dynamics and are intra annual figure which values are specified during creation of annual estimates on the basis of more detailed information.

Measure calculation of GDP is conducted by industries (appendix) which then are grouped on the industries making the goods and industries making services (market and non-market).

Treat the industries making goods: industry, construction, agricultural industry, other industries of production of goods.

Treat the industries making market services: transport and communication, trade (internal and external), procurements, information servicing, real estate transactions, general business activity on ensuring functioning of the market, geology and investigation of subsoil, housing and communal services and non-productive types of consumer services, financial activities and insurance, market part of science, health care, education, culture and art, management.

Treat the industries making non-market services: the services financed from the government budget (non-market part of branches of science, health cares, educations, cultures and arts, managements).

In the industries making goods and market services, gross release is determined as the total cost of the made products and the realized services. In the industries rendering non-market services, gross release is determined by the total cost of current costs of these industries.

The basic principle of assessment of market release of goods and services is use of the market prices prevailing during the period to which production belongs.

Considering features of accounting of production volumes in calculations of GDP, market release of all industries is estimated in basis prices.

Basis price - the price received by the producer for commodity unit or services excepting any payable taxes on products and including subsidies for products (except subsidies for import).

Taxes on products are the taxes levied usually for commodity unit or services that is in proportion to quantity or cost of the goods and services made, sold or imported by residents.

The following most widespread taxes belong to taxes on products:

value added tax (VAT) and VAT taxes;

excises: taxes which assess specific types or groups of goods (alcoholic beverages, tobacco, fuel, etc.);

tax on export-import transactions.

Subsidies for products are the subsidies paid usually in proportion to quantity or cost of the goods and services made, sold or imported by residents.

Release of market services is measured by revenue size from their realization, except for the VAT (in basis prices).

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