BAKU, Azerbaijan, Nov 3
By Natavan Rzayeva - Trend:
The Board of the Central Bank of Uzbekistan approved a preliminary conceptual draft of the “Main directions of monetary policy for 2022 and the period of 2023-2024”, Trend reports citing the press cervices of the Central Bank.
The goal of the draft is to ensure price and financial stability in the economy and reduce inflation to the target level of 5 percent by the end of 2023.
The document also lists the measures that the Board of the Central Bank will take in case of changes in external and internal economic conditions.
Taking into account the scale and duration of the impact of external and internal factors of medium-term forecasts of macroeconomic development, two scenarios were developed.
Changes in external economic conditions, forecasts of international financial institutions for the world economy and prices for main export goods, expected situations in major trading partner countries, and trends in domestic economic conditions were taken into account while developing these scenarios.
In the main scenario of macroeconomic development, a gradual improvement without significant external risks in external and internal economic conditions is expected.
The conditions of the alternative scenario of macroeconomic development are based on such assumptions as of the unfavorable formation of external economic conditions as a result of the continued tense situation with the pandemic and the slowdown in economic activity.