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Some types of cash payments may be suspended

The volume of the hidden economy in Uzbekistan can reach 25–45% of GDP, said Minister of Economy and Finance Jamshid Kuchkarov. At a plenary meeting of the Senate, he stated that a draft document is currently being developed on introducing the practice of making some payments exclusively by bank cards.

The volume of the hidden economy in Uzbekistan can reach 25 to 45% of GDP. Minister of Economy and Finance Jamshid Kuchkarov announced this at the 48th plenary meeting of the Senate.

“This is a high figure. In which sectors can we say we have the highest share of the hidden economy? It is in the construction, trade, and service sectors. Together with the presidential administration, we are preparing a draft resolution. The project is almost ready. There are many issues raised here, including a decrease in cash turnover. It’s not the old way. Making some payments only by bank cards, as well as other issues,” he said.

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