Economic History
When did Uzbekistan gain independence?
1991
What is the national currency of Uzbekistan?
Uzbek so‘m
What is the name of Uzbekistan’s long-term development plan?
“Uzbekistan 2030” Strategy
What does SME stand for?
Small and Medium Enterprises
What is the capital of Uzbekistan?
Tashkent
What was the main crop during the Soviet period?
Cotton
What are Uzbekistan’s top two exports?
Gold and natural gas
What was the main purpose of the 2017 currency reform?
To allow free convertibility of the so‘m
What is one major barrier for small businesses in Uzbekistan?
Limited access to credit
How many regions does Uzbekistan have?
12 + Karakalpakstan Republic
What was the main goal of Uzbekistan’s early independence economic strategy?
Achieving self-sufficiency and stability
Which region is known for textile and agricultural industries?
Fergana Valley
What is the main goal of creating Free Economic Zones (FEZs)?
To attract foreign investment and stimulate exports
What percentage of Uzbekistan’s GDP comes from SMEs?
Around 55%
What’s Uzbekistan’s main environmental challenge affecting agriculture?
Water scarcity
What historical event caused major environmental and economic damage in western Uzbekistan?
Aral Sea crisis
About what share of Uzbekistan’s GDP comes from services?
Around 45%
Which organization sets interest rates to manage inflation?
The Central Bank of Uzbekistan
What major advantage does Uzbekistan offer foreign investors?
Strategic location between major markets
If gold prices drop globally, what happens to Uzbekistan’s trade balance?
It worsens (export revenue falls)
How did the centralized Soviet system shape Uzbekistan’s regional economy long-term?
It caused overreliance on cotton and weak industrial diversification
How does Uzbekistan’s economy compare to its neighbors in diversification?
It’s more balanced than Turkmenistan but less diversified than Kazakhstan
How can fiscal and monetary policies conflict in a developing economy like Uzbekistan?
Fiscal expansion can increase inflation while monetary tightening tries to reduce it
Why is innovation difficult to scale in Uzbekistan’s private sector?
Lack of venture capital and technology transfer infrastructure
How could Uzbekistan avoid the “resource curse” while growing its economy?
By investing in human capital, tech, and diversification