World Bank Document

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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

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U

ZBEKISTAN

 

Toward A New Economy 

 

 

Country Economic Update 

Summer 2019 

 

 

 

 

 

 

 

 

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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 

   

                   

 

 

 

 

 

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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