New Strategic Directions for Ensuring Uzbekistan’s Economic Stability and Competitiveness: An Analysis of The “New Uzbekistan” and “Uzbekistan–2030” Programs

Abstract

This article analyses the institutional, technological and social aspects of the economic reforms implemented under the 'New Uzbekistan Development Strategy (2022–2026)' and the 'Uzbekistan–2030' programme of the Republic of Uzbekistan. Scientifically and theoretically, the paper is analyzing the mechanisms of creating a stable economy of the country through making the economy competitive and fitting in the world economy. It emphasizes mostly on economic liberalisation, building the private sector, enhancing the investment climate, streamlining the tax regime, advancing the digital economy and investing in human capital. The article also supports the effectiveness of the strategic reforms using the 2024 macroeconomic indicators as a reference, namely, a 6.5% growth in terms of GDP, a decrease in the growth rate of inflation to 9.4, and stable growth in the industrial and service sectors. Additionally, it analyses public–private partnerships, the principles of the 'green economy', the development of renewable energy sources, the digital government system and funds allocated to scientific research. According to the author, these strategies represent a conceptual model that will lead Uzbekistan towards an innovative, sustainable and inclusive economy. The aim is to increase the country’s GDP to 160 billion USD by 2030 and strengthen its competitiveness in the international arena.