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Uzbekistan-Toward-a-New-Economy-Country-Economic-Update



Country Economic Update

Summer 2019



Macroeconomics,

Trade & Investment

Global Practice



New Economy

Toward a

Uzbekistan

Uzbekistan

Country Economic Update | Summer 2019

Public Disclosure Authorized

Public Disclosure Authorized

Public Disclosure Authorized

Public Disclosure Authorized





 

 

 



 

 

 



 

 

 



 

 

U



ZBEKISTAN

 

Toward A New Economy 

 

 

Country Economic Update 



Summer 2019 

 

 



 

 

 



 

 

 




 

ii| 


 

Government Fiscal Year: 

January 1 – December 31 

Currency Equivalents:



 

  

Exchange Rate Effective as of May 8, 2019 



 

Currency Unit = Uzbekistan Som (UZS) 

 

US$1 = 8,448.89 UZS 



Weights and Measures: 

Metric System 



 

 

Abbreviations and Acronyms 

CAR 


CBU 

Capital Adequacy Ratio 

Central Bank of Uzbekistan 

CPI  


Consumer Price Index 

FDI 


Foreign Direct Investment 

FRD 


Fund for Reconstruction and Development 

GDP 


Gross Domestic Product 

IMF 


International Monetary Fund 

M2 


Broad Money 

NPL 


Nonperforming Loan 

PEFA 


Public Expenditure and Financial Accountability 

PPPs 


PPP 

SOE 


Public-Private Partnerships 

Purchasing Power Parity 

State-Owned Enterprise 

TFP                   Total Factor Productivity 

WTO 

World Trade Organization 



   

                   

 

 

 



 

 


 

|iii 


 

Table of Contents 

Foreword ................................................................................................................................................................................... iv 

Overview ..................................................................................................................................................................................... 1 

A. Recent Socio-Economic Developments ..................................................................................................................... 2 

B. Macroeconomic Policies and Key Structural Reforms ...................................................................................... 11 

C. Economic Outlook and Risks ........................................................................................................................................ 15 

D. Focus Section: Growth and Job Creation ................................................................................................................ 17 

Annex Table 1. Selected Macroeconomic and Social Indicators, 2016-2021………………………………….22




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