Tag Archives: Uzbekistan

Financial Regulation: Budget deficit management in post-independence Uzbekistan (Published)

The paper aims to study the important macroeconomic financial regulation problems such as budget deficit management in post-independence years of Uzbekistan.  The factors of budget deficit, the ways of its reduction and the financing mechanisms were studied using documenary analysis, economic and statistical methods of research. The research revealed that high level of centralized investments, negative effect of existed exchange regime, high subsidies for Pensions fund, compensation of agricultural losses due to bad wheather conditions and geopolitical situation required voluminous expenses. At the same time, change in tax rules, sharp decline of the income base of enterprises reduced budget revenies in the studied period. The results of research can be used as a basis for further fundamental researchs and to improving public policy and increase the efficiency of measures of budget deficit management in emerging markets.

Keywords: Budget, Expenditure, Regulation, Revenue, Uzbekistan, deficit

Economic Transformation: Reliance to Small Businesses and Export Orientation (Published)

Uzbekistan as a low-middle-income country with a population of 30 million, has seen stable economic progress (with the growth of average 8 percent per year) since 2004 and extreme poverty has declined from 27 percent in 2000 to 15 percent in 2012. The government has set an ambitious goal for the country—to join the group of upper-middle-income countries by 2030. This study discusses the main challenges of the structural transformations that the economy will face to achieve this objective.

Keywords: Export, Growth, Small Business, Transformation, Uzbekistan, import