THE IMPACT OF UZBEKISTAN'S FOREIGN DEBT ON THE GROSS DOMESTIC PRODUCT
- Authors
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Nishonkulov Shohruhxon
3rd year student of Economics of Kokand University,
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Gafurov Khurshid
Lecturer of the Department of International Tourism and Economy of Kokand University
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- Keywords:
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- Abstract
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This paper examines the impact of Uzbekistan's foreign debt on its Gross Domestic Product (GDP). The country's debt dynamics, economic indicators, and policy responses are analyzed to understand the debt's implications on Uzbekistan's economy. Uzbekistan's external debt has increased significantly over the last decade, and the debt-toGDP ratio has risen, indicating a growing debt burden. The government has implemented policy responses to manage the debt burden, including economic reforms and debt management practices. While foreign borrowing has enabled the government to finance infrastructure projects, it has also increased the debt service obligations, reducing the government's ability to invest in social sectors. The paper concludes that it is essential for the government to continue implementing sound economic policies to ensure debt sustainability and promote long-term economic growth.
- References
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Asian Development Bank. (2020). Uzbekistan Economic Outlook 2020. Retrieved from https://www.adb.org/publications/uzbekistan-economic-outlook-2020
International Monetary Fund. (2019). Republic of Uzbekistan: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Uzbekistan. Retrieved from https://www.imf.org/en/Publications/CR/Issues/2019/07/29/Republic-of-Uzbekistan2019-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-48483
Khamidov, A., & Nugmanova, G. (2019). External debt sustainability of Uzbekistan: An empirical analysis. Journal of Economic Cooperation and Development, 40(2), 1-30.
Republic of Uzbekistan. (2019). State Debt of the Republic of Uzbekistan. Retrieved from https://www.minfin.uz/en/state-debt
World Bank. (2019). Uzbekistan Economic Update: Resuming Growth. Retrieved from https://www.worldbank.org/en/country/uzbekistan/publication/uzbekistaneconomic-update-resuming-growth
World Bank. (2020). Uzbekistan Public Finance Review. Retrieved from https://www.worldbank.org/en/country/uzbekistan/publication/uzbekistan-public-financereview
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- Published
- 2023-05-15
- Section
- BARQAROR RIVOJLANISHNI TA‘MINLASHDA IQTISODIYOT, MENEJMENT VA MOLIYAVIY SOHALARNING O‘RNI
- License
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Copyright (c) 2023 QO‘QON UNIVERSITETI XABARNOMASI
This work is licensed under a Creative Commons Attribution 4.0 International License.
