Ministry of Economy (Uzbekistan)

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Ministry of Economy
Bakanlik.jpg
Uzbekistan Ministry of Economy Building
Economic ministry overview
FormedJanuary 22, 2002 (2002-01-22)
Jurisdiction Government of Uzbekistan
Headquarters45A Uzbekistan Avenue, Tashkent, Uzbekistan
Minister responsible
  • Botir Xoʻjayev
Website mineconomy.uz

The Ministry of Economy is a government agency of Uzbekistan which oversees the socio-economic development and management, working with other departments in ministries in the country. The ministry has many functions, including the oversight and development of a stable macroeconomy, development of the market, development of economic scenarios, and keeping track of economic demographics. [1] The Ministry of Economy implements the tasks assigned to it by developing and ensuring the implementation of short- and medium-term forecasts of the socio-economic development of the country and coordinating the activities of ministries and departments included in the General Economic Complex of the Cabinet of Ministers of the Republic of Uzbekistan. [2]

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The economy of Uzbekistan was formerly associated with a Soviet-style command economy, with a slow transformation to a market economy. However, in recent years and since the election of President Shavkat Mirziyoyev the country has seen rapid economic and social reform, aimed at boosting growth and transforming Uzbekistan into a true, modern market economy. International Financial Institutions, including EBRD, Asian Development Bank and the World Bank are actively engaging in supporting Uzbekistan's successful reform process and have rapidly increased their presence in the country.

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References

  1. "The Governmental portal of the Republic of Uzbekistan - Ministry of Economy of the Republic of Uzbekistan". Archived from the original on 2013-11-02. Retrieved 2013-11-01.
  2. "Ministry of Economy and Industry of Uzbekistan". DevelopmentAid. Retrieved 2023-09-09.