Number of priority reforms need to be implemented in Uzbekistan - WB

Uzbekistan Materials 20 May 2022 12:24 (UTC +04:00)
Number of priority reforms need to be implemented in Uzbekistan - WB
Natavan Rzayeva
Natavan Rzayeva
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BAKU, Azerbaijan, May 20. The World Bank emphasizes that 13 priority reforms need to be implemented within the four areas of development in Uzbekistan, Trend reports via the WB.

They are identified based on analysis by the government, the World Bank, and other international development partners of Uzbekistan, as well as on the basis of the experience of other countries with economies in transition.

The bank has revealed a new study that analyzes the main challenges and opportunities for the socio-economic development of Uzbekistan. It contains recommendations for the authorities to remove barriers to the growth of the private sector, limit the participation of the state in the economy, develop human capital and the country's transition to a "green" economy.

Since 2017, the government of Uzbekistan has been implementing transformational reforms aimed at liberalizing the economy and business environment, improving the welfare of citizens and focusing state bodies on their rights and interests.

According to the WB, the authorities are preparing for the next stage of reforms, setting themselves ambitious goals.

In particular, it is planned to halve poverty among the population by 2026, and also become one of the countries with an upper-middle-income level by 2030.

Achieving them will require much higher GDP growth than current levels. These goals can be achieved through more dynamic job creation and increased opportunities for citizens to participate in economic processes, including youth, women and persons with disabilities.

According to the WB, progress in four areas will help Uzbekistan achieve the above goals:

- stimulating private-sector growth and creating sustainable jobs;

- reforming the role of the state in the economy;

- investing in programs focused on the interests of citizens and the development of human capital;

- building an environmentally sustainable future.