In-depth Analysis of Money-Credit Policy of Uzbekistan in 2017

Conclusion
As the paper covers, the year of 2017 has brought changes in the market and economy of the country as the monetary policy was undertaken by the Central Bank of Uzbekistan and under the orders of the new president. One of the main changes in the monetary was the devaluation of UZS, which in turn made it possible to overcome obstacles for foreign investment, free market development, price changes and economic development of the country. As new socio-economic development programs and approaches were undertaken, liberalization of money exchange and circulation, favorable internal market and expansion of internal market were achieved.
The real GDP growth rate of partnering countries, including China, Russia and Kazakhstan has influenced the growth rate of Uzbekistan in one way and another, and mostly in a positive way. In addition, the price changing dynamics of goods affected the market price of country’s import and export goods, and recovery of those prices positively improved the economy. The prices of goods in the internal market were also affected due to the high inflation in the country.
As the Central Bank of Uzbekistan intensified the development of the country, entrepreneurship caused higher demand for money supply. Commercial banks’ national currency loan portfolio increased.
Due to the volatility of the national currency against USD, fixed holdings at the exchange rate of economy and the growth of savings and investment in national currency were affected.
As the Central Bank of Uzbekistan prepares for continuous implementation of monetary policy in 2018, the harmonious implementation of the monetary policy measures will promise economic growth and positive monetary indicators for 2018 and will contribute to ensuring macroeconomic stability in the country.

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