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Uzbekistan’s officers are on a mission to reform the nation’s capital markets. Their aim? To tug off a slew of privatizations, IPOs and debt points in order that by providing a wider array of shares and bonds, they will entice international buyers and lift much-needed funds for presidency coffers and to rejuvenate state and private-sector corporations.
The federal government started engaged on its general reform agenda after Shavkat Mirziyoyev was elected president in 2016. Taking cost of an financial system dominated by lumbering state gamers, his first decisive transfer was to open up enterprise and finance to the non-public sector.
In late 2020, the federal government stated it will absolutely or partly privatize greater than 620 state-owned corporations and properties to show the previous Soviet republic right into a extra dynamic market financial system. Nonetheless, critics complain that the main target has been on the partial divestment of small or non-core state property, somewhat than the privatization of larger, extra essential corporations.
Uzbekistan’s financial system managed to climate the Covid-19 pandemic comparatively nicely. It grew 1.7% in actual development phrases in 2020, one of many few nations to keep up constructive actual development, based on an S&P World Scores report. GDP development is predicted to come back in at 6.5%
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