The Effective Ways of Management of Uzbekistan’s Public Debt

Abstract

This article analyzes the most efficient approaches to the management of public debt in Uzbekistan and the relationship between fiscal sustainability and economic growth. This study reviews the development of Uzbekistan’s debt management since the 2016 economic reforms implemented by President Shavkat Mirziyoyev and examines the historical and contemporary approaches of the country as well as the international best practices. Through comparison with global models and the use of data analysis, this article identifies recommendations that can help Uzbekistan bring its debt policies in line with international standards. It also focuses on the social effects of public debt such as its effects on fiscal stability, investment, and social welfare. Special attention is paid to the improvement of transparency, accountability, and the legal framework to achieve sustainable debt levels and increase economic stability. The outcomes are intended for policy makers, scholars, and other interested parties who seek to develop a strong economic system in Uzbekistan.