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International Journal of Trend in Scientific Research and Development (IJTSRD)
Special Issue on Innovative Development of Modern Research
Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470

The Republic of Uzbekistan's Role of Acceleration and

Diversification of its Exchange and Exchange Policy

Kholikulov Ozod Kholmirzaevich, Esanov Oybek Madatovich

Assistant of the Samarkand Institute of Economics and Service, Samarkand, Uzbekistan

ABSTRACT direct investment amounted to $ 4.2 billion, compared to
This article provides information on the measures taken by 2018 - I would like to draw your attention to this figure -
the Republic of Uzbekistan to accelerate the liberalization of increased by $ 3.1 billion or 3.7 times.
its foreign exchange policy. There are ways of using foreign
currency, which can be allocated from foreign currency, The share of investment in GDP reached 37%. For the first
time, our country received an international credit rating and
which is part of the gold and foreign exchange reserves of successfully placed $ 1 billion in bonds on world financial
the Republic of Uzbekistan, or borrowed from sources of
3
markets.
funds of international financial organizations such as the
International Monetary Fund. Thus, the role and main It is important to pay special attention to the following
indicators of economic diversification are interpreted in priorities identified in the state program "Strategy of Action"
context. for 2017-2021, developed in our country.

KEYWORDS: economy, currency, gold-currency, credit, Further modernization and diversification of the industry
account, liberalization, diversification, monetary policy, through the transition of high-tech processing industries,
acceleration, debt, investment primarily to a qualitatively new level, aimed at the rapid
development of production of high value-added finished
4
In the context of developing innovative economy, the issues products based on deep processing of local raw materials.
of liberalization of monetary policy and diversification of the In the early 1980s, the independence of a number of Arab
economy on the basis of the digital economy are invaluable states and the “oil boom” accelerated the process of
in all areas. Accelerated development of liberalization of modernization and established a free currency policy. This,
foreign exchange policy On the initiative of the President of in turn, has led to an increase in attention to the Arab states
the Republic of Uzbekistan Shavkat Mirziyoyev, a new stage in the world economy and international relations.
of development and reforms has begun in our country. Also, Publications of that period included the works of Russian
based on the principle that "political independence cannot be
orientalists S.A Kaminsky on the constitutional foundations
achieved without economic independence", we believe that of the Arab states, AG Georgieva and VV Ozoling on the
in the future it is necessary to focus on the following economic, social and legal-state development of the oil-
strategic directions of socio-economic development of our producing Arab countries. These were written by M.G
country.
Zakaria, A.I Yakovlev, V.V Mashin, A.M Vasilev, L.I Medvedko
5
First of all, it is of great importance to further strengthen and others.
macroeconomic stability and maintain the achieved In accordance with the Action Strategy for the five priority
economic growth rates, ensure the stability of our national
areas of development of the Republic of Uzbekistan for 2017-
currency, prices in the domestic market. 2021, the following is aimed at: introduction of market
Secondly, the decisive factor is to further increase the mechanisms of currency regulation, stimulation of export
competitiveness of our economy in the world market, potential of the republic, active attraction of foreign direct
modernize and diversify its industries and sectors, expand investment, increase the competitiveness of domestic
export potential, increase investment activity. producers in foreign and domestic markets.
1
As noted in the Address of the President of the Republic of
Uzbekistan Sh. Mirziyoyev on December 28, 2018, including
3 Address of the President of the Republic of Uzbekistan
the most important priorities for 2019, joint investments
Sh.M.Mirziyoev to the Oliy Majlis. 24.01.2020.
with the World Bank, European Bank for Reconstruction and
4 Decree of the President of the Republic of Uzbekistan dated
Development, Islamic and Asian Development Banks and February 7, 2017 No PF-4947 "On the Action Strategy for further
other international financial institutions volume was $ 8.5 development of the Republic of Uzbekistan." Issue 28 (6722) of the
billion. newspaper "People's Word" dated February 8, 2017.
2
5 Kaminskiy S.A. Institute of the monarchy in the Arab East. - M .:
When the tasks outlined in the Address of the President of Vostochnaya literatura, 1981; Georgiev A.G., Ozoling V.V. Neftyanye
the Republic of Uzbekistan Sh. Mirziyoyev to the Oliy Majlis monarchy Aravii. - M .: Izdatelstvo MGIMO, 1983. - 224 p .; Zakaria
on January 24, 2020 are analyzed, compared to 2019, that is, M.G., Yakovlev A.I. Neftyanye monarchy Aravii na poroge XXI veka. -
along with the positive results in all areas, the volume of M .: Nauka, 1998. - 119 p .; Machine V.V., Yakovlev A.I. Persidskiy
investments has increased significantly. In particular, foreign zaliv v planax i politike Zapada. - M .: Nauka, 1985; Vasilev A.M.
Fakely Persidskogo zaliva. - M .: Politizdat, 1976. - 173 p .; Vasilev
A.M. Persidskiy zaliv v epitsentre buri. - M .: Nauka, 1983. - 288 p .;
https://uz.fundamental-economic.uz/?page_id=1150
1 1 Medvedko L.I. To the east and west of Suetsa. - M .: MGU Publishing
2 Address of the President of the Republic of Uzbekistan House, 1981; Noveyshaya istoriya arabskix stran Azii (otv.red.
Sh.M.Mirziyoev to the Oliy Majlis. 28.12.2018. V.V.Naumkin). - M .: Vostochnaya literatura, 1988.

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