The Asian Development Bank approved a $150 million loan to Uzbekistan and a $400,000 grant to improve the economy, the ADB press service announced, Nova24.uz reports.
As part of the Economic Governance Improvement Program, the government of Uzbekistan will be supported to transform the legal, regulatory and institutional framework to improve the efficiency of financial management and improve the performance of state-owned enterprises.
Uzbekistan has demonstrated a strong commitment to reforms that will help transform it into a more open and competitive market economy. ADB will continue to help the country achieve this goal while maintaining macroeconomic stability and inclusive and sustainable growth, said Evgeny Zhukov, ADB Director General for Central and West Asia.
The reforms of the program are aimed at strengthening the management of fiscal risks and public debt, improving the allocation of public resources through gender-responsive budgeting, as well as developing and implementing a strategy for Uzbekistan's transition to a green economy.
According to official data, in November 2022, real GDP growth in Uzbekistan for 2021 amounted to 7.4%.
In addition, over the week, the state budget deficit of Uzbekistan exceeded 5 trillion soums. The indicator reached one-fifth of the deficit planned for 2023.
CentralasianLIGHT.org
February 9, 2023