Диссертацияларининг асосий илмий натижаларини чоп этиш тавсия этилган илмий нашрлар ва Россия

(Table 6)
.
Conclusions
This results on twin deficit hypothesis, using ARDL and 
OLS models, propose that there is a positive connection 
between fiscal deficit and current account deficit in Uzbekistan 
within the period of 2000 and 2020. To deal with the twin 
deficits problems the government the government should 
introduce fiscal measures such as reducing non-development 
expenditure and encourage domestic production. It should 
also enhance the tax and non-tax revenue collection system 
through fighting corruption and shadow economy, which 
causes significant fall in tax revenues. 
The government should also encourage export-
oriented firms by creating favorable investment 
climate. The increase of import substitution in 
the home country will increase domestic output, 
employment and earnings which in turn reduce imports 
volume. If effectively implemented these measures 
will finally reduce budget deficits and improve the 
country’s current account balance over time.
Moreover, based on international experience, we 
present the following recommendations:
1) In order to achieve fiscal consolidation, i.e., 
strengthening the budget, the government needs to increase 
the efficiency of tax administration by strengthening tax 
compliance, reducing and eliminating tax evasion.
2) It is highly necessary to increase tax revenues by 
expanding the tax base and optimizing tax incentives.
3) It is crucial to improve the mechanisms for the 
effective distribution of state subsidies.
4) To prevent a debt crisis, strict regulation of the 
movement of each leading indicator should be performed, 
in particular, control over M2 and inflation growth.
5) In addition, domestic lending must be organized
efficiently so that commercial banks do not face 
liquidity problems.
6) It is also important to overcome the crisis by 
ensuring that the amount of loans provided by the IMF 
does not exceed the established quota.
7) Due to the strong correlation between short-
term loans and current account deficits, they should be 
directed to highly efficient sectors.