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| Format: | Recurso digital |
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Zenodo
2026
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| Online Access: | https://doi.org/10.5281/zenodo.18662111 |
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Table of Contents:
- <p>This study examines the evolution of Uzbekistan’s fiscal policy during 2020–2025 and evaluates its contribution<br>to sustainable economic growth amid a period of profound structural transformation. Over these years, the government<br>implemented a series of reforms aimed at strengthening budget transparency, improving tax administration, expanding<br>social protection, and increasing the efficiency of public expenditure. The analysis highlights how counter-cyclical fiscal<br>measures adopted during the COVID-19 pandemic helped cushion economic shocks, while subsequent consolidation<br>efforts supported macroeconomic stability and restored growth momentum. Particular attention is given to shifts in tax<br>policy, the reorientation of public investment toward infrastructure and human capital, and the growing emphasis on<br>green and digital development priorities. Using comparative data, policy documents, and macroeconomic indicators,<br>the paper demonstrates that Uzbekistan’s fiscal reforms have played a pivotal role in stimulating private sector activity,<br>enhancing resilience, and laying the groundwork for long-term sustainable growth. Nevertheless, the study also identifies<br>ongoing challenges, including the need for deeper institutional modernization, better targeting of social spending, and<br>strengthening the balance between fiscal discipline and growth-oriented investment. The findings provide valuable<br>insights for policymakers seeking to design more effective fiscal frameworks in emerging economies.</p>