The Path to Upper-Middle-Income Status in Uzbekistan

Trushin, Eskender; Carneiro, Francisco G.

The Path to Upper-Middle-Income Status in Uzbekistan | Changing for the Better

2015

Trushin, Eskender | Carneiro, Francisco G.

As a low-middle-income country with a gross domestic product (GDP) per capita of US$1,715 and a population of 30 million (nearly half of all of the Central Asian population), Uzbekistan has seen stable economic progress since the mid-2000s, both in terms of growth and poverty reduction. Growth has averaged 8 percent per year since 2004 and extreme poverty has declined from 27 percent in 2000 to 15 percent in 2012. Encouraged by this outstanding growth performance, the Uzbek authorities have set an ambitious goal for the country, to join the group of upper-middle-income countries by 2030. This note discusses the main challenges that the government is likely to face and the structural transformations that the economy will have to undergo to achieve this objective.

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AGROVOC Keywords

agriculture commodities consumers debt developing countries development strategy economic development economic geography economic growth equipment exchange rate exports extreme poverty financial market gold gross domestic product import imports income land use living standards market prices metals natural resources opportunity costs poverty reduction private investment property rights public investment resource allocation rule of law structural change taxation terms of trade trade liberalization trade policies trade protection transaction costs wages world markets world trade organization wto

Bibliographic information

Publisher

World Bank, Washington, DC

Other Subjects

International prices; World market; World trade; Advanced economies; Government policy; Gdp; Labor markets; Economic model; Comparative advantage; Policy environment; Connectivity; Foreign markets; Government investment; Production processes; Price index; Market size; Financial markets; Consolidation; High-income countries; Transaction; Labor force; Regional trade; Middle-income country; Producers; Risk aversion; Trade restrictions; Commodity prices; Inefficiency; Currency; Rapid growth; Future growth; Governance indicators; Foreign exchange; Productivity growth; Growth performance; Labor market; Capital goods; Trading; International development; Personal income; Income taxes; Econometric analysis; Foreign exchange controls; External demand; Macroeconomic environment; Directed credit; Real gdp; Financial market development; Trading partners; Competitiveness; Total exports; Transparency; Financial crisis; Foreign exchange control; Foreign market; Sustainable growth; Joint-stock companies; Emerging economies; Financial sector; Commodity; Oil; Macroeconomic management; Market efficiency; Middle-income countries; Tax; Bank office; Sovereign debt; Productivity increases; Implicit tax; Advanced economy; Developing country; Credibility; Economic policy; Industrial economy; Exporters; Investment projects; Global economy; Output; Gdp per capita; Market economy; Distortions; Relative prices; Economic progress; Structural reform

Language

English

Type

Brief; Publications & Research; Publications & Research :: Brief

In AGRIS since: 2016-03-15

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