TASHKENT, Aug. 12 (Xinhua) -- The share of the shadow economy in Uzbekistan has fallen from 45-50 percent in 2019 to the current 35 percent, local media reported on Tuesday.
President Shavkat Mirziyoyev on Monday reviewed a plan to improve the system for combating the shadow economy, the press service of the President of Uzbekistan said in a statement.
Although the share of the shadow economy has decreased, "this figure must continue to be reduced," the statement said.
It was noted that the most effective way forward is to introduce modern technological and innovative approaches.
"The development of electronic payment creates convenience for the population and businesses, and is also an effective tool to reduce the shadow economy. In this regard, it is important to encourage cashless payments and increase the number of payment organizations," the statement said.
Mirziyoyev said in November that Uzbekistan's ongoing social, economic and political reforms will enable the Central Asian country's gross domestic product (GDP) to reach 200 billion U.S. dollars by 2030. ■
