Go to main content
Woldemar Walter

Reform achievements and future challenges

After five years of reforms in Uzbekistan, we take this opportunity to take stock of the goals achieved, the ongoing reforms and the challenges ahead.

  • Uzbekistan
NL 14 | September-October 2021
International Trade and Regional Integration
Macroeconomic Analyses and Forecasting
Private Sector Development

Among the most important reforms implemented so far are the flexibilisation of the exchange rate, the reduction of customs tariffs and the reform of the tax system, which have all decisively improved the openness and competitiveness of the economy. Important ongoing reforms include those in the banking and agricultural sectors as well as privatisation of state-owned enterprises (SOEs). As future challenges we see the need to strengthen the rule of law, combating corruption and reducing the role of the state in the economy.

All in all, Uzbekistan has achieved remarkable reform successes in the past five years. However, it still has a long way to go as current and future challenges are likely more complex than the ones successfully addressed so far. The good news is that the international community stands ready to support Uzbekistan on this path.

Download PDF