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Middle East and Central Asia > Uzbekistan, Republic of

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Cover IMF Staff Country Reports
Republic of Uzbekistan: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper discusses key channels by which fiscal consolidation impacts short- and medium-term growth, examines the international experience on how to make fiscal consolidation more growth friendly, and analyzes policy implications for Uzbekistan. A large part of the adjustment is implemented with high-quality efficiency-enhancing measures: reducing energy subsidies, improving the targeting of social spending, and curbing policy lending. The World Bank Public Expenditure Review notes that nonwage spending in health and education is low and crowded out by high wage bills, which have been growing in recent years as efforts to improve pay in these areas were implemented. This points to the need to review the adequacy of nonwage spending in these sectors and undertake wage bill rationalization more broadly since these are large sectors of public employment. In the specific case of health spending, consideration should be given to strengthening primary care and introducing task-shifting which will lead to greater efficiency from health wage bill expenditure by shifting its composition over the medium term. Unify the public investment process irrespective of the financing source; create a unified appraisal and selection process; establish a single project pipeline; and improve project monitoring and evaluation to increase public investment efficiency.
Keywords:
market regulation; privatizing state enterprises; impact of fiscal consolidation; channels of impact; government data; Fiscal consolidation; Corruption; Global; Central Asia and the Caucasus; Asia and Pacific
Cover IMF Working Papers
Rapid Growth in Transition Economies: Growth-Accounting Approach
Mr. Garbis Iradian
This paper uses the growth-accounting approach to determine the sources of growth in transition economies. The central conclusion is that the estimated total factor productivity (TFP) growth for the former Soviet Union republics were significantly higher than other fast growing economies. A key question for prospective growth is whether the TFP gains achieved thus far have already eliminated most of the inefficiencies of central planning-and will therefore soon fade away. Underutilized labor combined with the recent trend of faster capital accumulation may play a more important role in the medium-term growth.
Keywords:
WP; TFP growth; technical efficiency; CIS country; physical capital
Cover Improving Governance and Fighting Corruption in the Baltic and CIS Countries
Improving Governance and Fighting Corruption in the Baltic and CIS Countries
The Role of the IMF
International Monetary Fund

Abstract

Drawing on recent examples of corruption in the Baltics and former Soviet Union, this pamphlet analyzes the links between governance and corruption, and emphasizes the high economic cost that corruption exacts. The pamphlet outlines how the IMF is working with the countries of the former Soviet Union to curb corruption, and put in place the regulatory and legal changes needed to support good government.

Keywords:
EI; state; enterprise; governance; state energy company; textile plant; CIS country; country self-assessments; governance problem; government transparency; accountancy firm; Corruption; Baltics
Cover IMF Working Papers
Analysis of Recent Growth in Low-Income CIS Countries
Ms. Elena Loukoianova
and
Ms. Anna Unigovskaya
This paper analyzes factors that determine recent economic growth in the low-income countries of the Commonwealth of Independent States.2 The main findings are as follows: (1) productivity gains in export-oriented sectors and expansion of exports may have become the main sources of growth in five of the seven CIS-7 countries, while in the early years of transition the output recovery was mainly driven by consumption; (2) economic growth has concentrated in agriculture and the raw material sectors, and, thus, is vulnerable to changes in external conditions; and (3) structural reforms matter for growth, which is consistent with previous research on growth in transition countries.
Keywords:
WP; real GDP; TFP growth; exchange rate; CIS Goskomstat
Cover IMF Working Papers
The Great Contractions in Russia, the Baltics and the Other Countries of the Former Soviet Union: A View From the Supply Side
International Monetary Fund
The output contractions during the initial transition stages in the Baltics and in Russia and the other CIS countries are examined across several dimensions, and the reliability of the available official statistics evaluated. The depth, length and breadth of the contractions are studied and set against a longer-run historical perspective. The relationship between inputs and outputs as described in a standard accounting framework shows that there is more to the contractions than collapsing investment and shrinking employment. Sharp declines in productivity, reflecting in part transition-related factors, also played a major role.
Keywords:
WP; Output; transition; growth; productivity; output decline; CIS country; productivity effect; TFP loss; output contraction; renewed output; productivity decline; index of total factor productivity; productivity occupation; higher-productivity sector; Total factor productivity; Agricultural sector; Labor productivity; Baltics; Europe
Cover IMF Working Papers
Improving Governance and Fighting Corruption in the Baltic and CIS Countries: The Role of the IMF
Emine Gürgen
and
Mr. Thomas A. Wolf
This paper examines the indirect role the IMF plays in combating corruption in the Baltic and CIS countries by promoting structural reforms that help improve economic governance and thus reduce opportunities for rent-seeking behavior. The analysis draws on examples of actual experience with corruption and outlines some of the structural measures under IMF-supported arrangements, which, if successfully implemented, can be expected to help gradually alleviate corruption. It also summarizes IMF-wide initiatives under way to strengthen public sector transparency and accountability, and highlights the key structural areas likely to receive emphasis in the IMF’s future policy advice to countries in the region.
Keywords:
WP; administration; country; authority; economy; CIS country; Governance; corruption; transition; Baltic; CIS; IMF; country self-assessments; enterprise operation; macroeconomic adjustment; government transparency; state energy company; Commercial banks; Civil service reform; Privatization; Baltics
Cover IMF Policy Discussion Papers
The State of Tax Policy in the Central Asian and Transcaucasian Newly Independent States (NIS)
Mr. Julio Escolano
and
Mr. Parthasarathi Shome
Two possible tax policy strategies for the NIS are: (1) an optimal nondistortionary tax structure as a one-shot action; and (2) a structure with identifiable and clearly understood distortionary elements as a temporary phenomenon to close the fiscal gap. An assessment of NIS tax structures reveals that they conform to neither. They are rapidly acquiring complex features comprising multiple rates, exemptions, and other difficult-to administer properties, with uncertain ramifications for efficiency, equity, and the fiscal deficit. Steady--and perhaps prolonged--effort needs to be made if simple, broad-based, and revenue-productive tax structures are to be achieved. This is a Paper on Policy Analysis and Assessment and the author(s) would welcome any comments on the present text. Citations should refer to a Paper on Policy Analysis and Assessment of the International Monetary Fund, mentioning the author(s) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund.
Keywords:
PDP; firm; profit; enterprise profits; VAT administration; profits tax; profits taxation; VAT system; VAT base; market economy; VAT structure; Value-added tax; Income tax systems; Personal income tax; Income; Personal income; Central Asia; Global