Assessing Uzbekistan’s Transition : Country Economic Memorandum
Uzbekistan’s transition from planning to market started almost thirty years ago following its independence from the Soviet Union. For most of this period, economic modernization and transformation were stalled, with little change in institutions an...
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World Bank, Washington, DC
2021
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| Online Access: | http://documents.worldbank.org/curated/undefined/862261637233938240/Assessing-Uzbekistan-s-Transition-Country-Economic-Memorandum http://hdl.handle.net/10986/36655 |
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okr-10986-366552021-12-07T05:10:56Z Assessing Uzbekistan’s Transition : Country Economic Memorandum Izvorski, Ivailo Vatyan, Arman Trushin, Eskender Abdul-Hamid, Husein Dalvit, Nicolo Safarov, Maksudjon Iootty, Mariana Novikova, Marina Melecky, Martin Ahmedov, Mohirjon Manuilova, Natalia Zorya, Sergiy Nagaraj, Vinayak PUBLIC FINANCIAL MANAGEMENT FISCAL POLICY PRIVATE SECTOR DEVELOPMENT EXTERNAL TRADE TRADE INTEGRATION STATE-OWNED BANKS STATE-OWNED ENTERPRISES ENERGY SECTOR TRANSITION ECONOMIES SOCIAL PROTECTION EDUCATION HEALTH Uzbekistan’s transition from planning to market started almost thirty years ago following its independence from the Soviet Union. For most of this period, economic modernization and transformation were stalled, with little change in institutions and policies from those prevailing at the time of the planned economy. In late 2016, Uzbekistan surprised by launching reforms with a breadth and speed that at times exceeded the pace of those observed in some of the earlier reformers at a similar stage of the process. In November 2018, building on the results from more than a year of economic reforms, the government announced the agenda for the next phase of its bold and ambitious economic transformation. In terms of the pace of transition, Uzbekistan’s record has been mixed but appropriate, given that reforms are dependent on experience with markets and prices, initial conditions, and institutional strength. Before the Coronavirus (COVID-19) pandemic started, the reform momentum was supported by comfortable external and fiscal buffers and a robust global economy. The buffers are still sizable, even with doubling of public debt since 2017, and a sign of strength but the pull from the global economy has been substantially diminished. The rest of the introduction reviews progress in the key areas of economic transformation. 2021-12-06T17:50:10Z 2021-12-06T17:50:10Z 2021-11-08 Report http://documents.worldbank.org/curated/undefined/862261637233938240/Assessing-Uzbekistan-s-Transition-Country-Economic-Memorandum http://hdl.handle.net/10986/36655 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Country Economic Memorandum Europe and Central Asia Uzbekistan |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
PUBLIC FINANCIAL MANAGEMENT FISCAL POLICY PRIVATE SECTOR DEVELOPMENT EXTERNAL TRADE TRADE INTEGRATION STATE-OWNED BANKS STATE-OWNED ENTERPRISES ENERGY SECTOR TRANSITION ECONOMIES SOCIAL PROTECTION EDUCATION HEALTH |
| spellingShingle |
PUBLIC FINANCIAL MANAGEMENT FISCAL POLICY PRIVATE SECTOR DEVELOPMENT EXTERNAL TRADE TRADE INTEGRATION STATE-OWNED BANKS STATE-OWNED ENTERPRISES ENERGY SECTOR TRANSITION ECONOMIES SOCIAL PROTECTION EDUCATION HEALTH Izvorski, Ivailo Vatyan, Arman Trushin, Eskender Abdul-Hamid, Husein Dalvit, Nicolo Safarov, Maksudjon Iootty, Mariana Novikova, Marina Melecky, Martin Ahmedov, Mohirjon Manuilova, Natalia Zorya, Sergiy Nagaraj, Vinayak Assessing Uzbekistan’s Transition : Country Economic Memorandum |
| geographic_facet |
Europe and Central Asia Uzbekistan |
| description |
Uzbekistan’s transition from planning
to market started almost thirty years ago following its
independence from the Soviet Union. For most of this period,
economic modernization and transformation were stalled, with
little change in institutions and policies from those
prevailing at the time of the planned economy. In late 2016,
Uzbekistan surprised by launching reforms with a breadth and
speed that at times exceeded the pace of those observed in
some of the earlier reformers at a similar stage of the
process. In November 2018, building on the results from more
than a year of economic reforms, the government announced
the agenda for the next phase of its bold and ambitious
economic transformation. In terms of the pace of transition,
Uzbekistan’s record has been mixed but appropriate, given
that reforms are dependent on experience with markets and
prices, initial conditions, and institutional strength.
Before the Coronavirus (COVID-19) pandemic started, the
reform momentum was supported by comfortable external and
fiscal buffers and a robust global economy. The buffers are
still sizable, even with doubling of public debt since 2017,
and a sign of strength but the pull from the global economy
has been substantially diminished. The rest of the
introduction reviews progress in the key areas of economic transformation. |
| format |
Report |
| author |
Izvorski, Ivailo Vatyan, Arman Trushin, Eskender Abdul-Hamid, Husein Dalvit, Nicolo Safarov, Maksudjon Iootty, Mariana Novikova, Marina Melecky, Martin Ahmedov, Mohirjon Manuilova, Natalia Zorya, Sergiy Nagaraj, Vinayak |
| author_facet |
Izvorski, Ivailo Vatyan, Arman Trushin, Eskender Abdul-Hamid, Husein Dalvit, Nicolo Safarov, Maksudjon Iootty, Mariana Novikova, Marina Melecky, Martin Ahmedov, Mohirjon Manuilova, Natalia Zorya, Sergiy Nagaraj, Vinayak |
| author_sort |
Izvorski, Ivailo |
| title |
Assessing Uzbekistan’s Transition : Country Economic Memorandum |
| title_short |
Assessing Uzbekistan’s Transition : Country Economic Memorandum |
| title_full |
Assessing Uzbekistan’s Transition : Country Economic Memorandum |
| title_fullStr |
Assessing Uzbekistan’s Transition : Country Economic Memorandum |
| title_full_unstemmed |
Assessing Uzbekistan’s Transition : Country Economic Memorandum |
| title_sort |
assessing uzbekistan’s transition : country economic memorandum |
| publisher |
World Bank, Washington, DC |
| publishDate |
2021 |
| url |
http://documents.worldbank.org/curated/undefined/862261637233938240/Assessing-Uzbekistan-s-Transition-Country-Economic-Memorandum http://hdl.handle.net/10986/36655 |
| _version_ |
1764485695952388096 |