LEADER 02897cam a22005175i 4500001 99131234438906421 005 20211225202010.0 006 m d 007 cr cn||||||||| 008 020129s2021 dcu o i00 0 eng^^ 024 7 10.1596/36655 |2doi 035 (CKB)4920000001209431 035 (The World Bank)36655 035 (US-djbf)36655 035 (EXLCZ)994920000001209431 040 DJBF |beng |cDJBF |erda 100 1 Izvorski, Ivailo. 245 10 Assessing Uzbekistan's Transition : |bCountry Economic Memorandum / |cIvailo Izvorski. 246 Assessing Uzbekistan’s Transition 264 1 Washington, D.C. : |bThe World Bank, |c2021. 336 text |btxt |2rdacontent 337 computer |bc |2rdamedia 338 online resource |bcr |2rdacarrier 347 data file |2rda 490 1 Country Economic Memorandum. 520 3 Uzbekistan's transition from planning to market started almost thirty years ago following its independence from the Soviet Union. For most of this period, economic modernization and transformation were stalled, with little change in institutions and policies from those prevailing at the time of the planned economy. In late 2016, Uzbekistan surprised by launching reforms with a breadth and speed that at times exceeded the pace of those observed in some of the earlier reformers at a similar stage of the process. In November 2018, building on the results from more than a year of economic reforms, the government announced the agenda for the next phase of its bold and ambitious economic transformation. In terms of the pace of transition, Uzbekistan's record has been mixed but appropriate, given that reforms are dependent on experience with markets and prices, initial conditions, and institutional strength. Before the Coronavirus (COVID-19) pandemic started, the reform momentum was supported by comfortable external and fiscal buffers and a robust global economy. The buffers are still sizable, even with doubling of public debt since 2017, and a sign of strength but the pull from the global economy has been substantially diminished. The rest of the introduction reviews progress in the key areas of economic transformation. 650 4 Economic Growth 650 4 Energy Sector 650 4 Fiscal Policy 650 4 Health 650 4 Macroeconomics and Economic Growth 650 4 Public Sector Development 650 4 State-Owned Banks 650 4 State-Owned Enterprises 700 1 Abdul-Hamid, Husein. 700 1 Ahmedov, Mohirjon. 700 1 Dalvit, Nicolo. 700 1 Iootty, Mariana. 700 1 Manuilova, Natalia. 700 1 Melecky, Martin. 700 1 Nagaraj, Vinayak. 700 1 Novikova, Marina. 700 1 Safarov, Maksudjon. 700 1 Trushin, Eskender. 700 1 Vatyan, Arman. 700 1 Zorya, Sergiy. 830 0 Country Economic Memorandum. 830 0 World Bank e-Library. 906 BOOK