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Middle East and Central Asia > Uzbekistan, Republic of

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Cover Technical Assistance Reports
Republic of Uzbekistan: Technical Assistance Report-Report on National Accounts Mission (April 8-12, 2024)
International Monetary Fund. Statistics Dept.
A technical assistance mission assisted the Statistics Agency under the President of the Republic of Uzbekistan (SA) in conducting a major revision of national accounts time series. Based on the results of the 2023 survey on non-observed economy (NOE) in hotels, restaurants, and other services, the 2024 major revision increases the nominal GDP for 2017–2023 in the range of 10–12 percent. The mission reviewed the results of the 2024 major revision and provided recommendations for improvement before their publication. These improvements to data and methods will improve the understanding of the Uzbekistan economy, both for domestic policymaking and international surveillance.
Keywords:
National accounts; GDP; major revision; non-observed economy.; IMF-to-IMF executive directors; World Bank staff; SA staff; instrumentalities of the CD recipient; non-observed economy; Small and medium enterprises
Cover Technical Assistance Reports
Republic of Uzbekistan: Technical Assistance Report-Report on National Accounts Mission (July 24–August 4, 2023)
International Monetary Fund. Statistics Dept.
A technical assistance mission assisted the Statistics Agency under the President of the Republic of Uzbekistan (SA) in conducting a major revision of national accounts time series. Based on the results of the 2023 survey on non-observed economy (NOE) in hotels, restaurants, and other services, the 2024 major revision increases the nominal GDP for 2017–2023 in the range of 10–12 percent. The mission reviewed the results of the 2024 major revision and provided recommendations for improvement before their publication. These improvements to data and methods will improve the understanding of the Uzbekistan economy, both for domestic policymaking and international surveillance.
Keywords:
National accounts; GDP; major revision; non-observed economy.; World Bank staff; TA recipient; steering committee of CCAMTAC; SUT data; SA staff; Consumption; Agricultural commodities; Household consumption; Economic classification
Cover IMF Staff Country Reports
Republic of Uzbekistan: Technical Assistance Report-National Accounts Statistics Mission
International Monetary Fund. Statistics Dept.
This technical assistance (TA) report on Republic of Uzbekistan focuses on details of National Accounts Statistics mission. Significant progress on national accounts made by The Statistics Agency under the President of the Republic of Uzbekistan (SA) in recent years has been reflected in the compilation of discrete quarterly gross domestic product (GDP) and the implementation of 2008 System of National Accounts (SNA), although there are some areas for further improvement. The mission noted that the quality of national accounts is highly dependent on the quality of data sources, and their improvement should be a priority for the SA. The mission reviewed the structure of gross value added at current prices and the share of each sector in GDP and identified sectors with underestimated levels of non-observed economy (NOE). The mission recommended that the SA conduct sector-specific NOE surveys in the relevant sectors. The mission also reviewed the compilation of supply and use tables and developed a plan for further improvement. The mission recommended that the SA apply sampling methods when planning each survey. High-quality questionnaires and representative sampling are important for sector specific surveys. The sampling of households should be stratified and should include all geographical regions of the country.
Keywords:
GDP; supply and use tables; non-observed economy; FISIM; 2008 SNA.; World Bank staff; SA staff; IMF executive directors; instrumentalities of the CD recipient; SUT framework; NOE estimate; Consumption; Household consumption; Global
Cover IMF Staff Country Reports
Republic of Uzbekistan: Technical Assistance Report-National Accounts Statistics Mission
International Monetary Fund. Statistics Dept.
This technical assistance (TA) report on Republic of Uzbekistan discusses summary of mission outcomes and priority recommendations of National Accounts mission. The Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) conducted a TA mission on source data for national accounts. The main purpose of the mission was to assist the Statistics Agency (SA) of Uzbekistan in improving source data for compiling annual and quarterly gross domestic product (GDP). The national accounts team has made very good progress in compiling and disseminating quarterly national accounts aggregates on a discrete basis, which are required for subscription to the IMF’s Special Data Dissemination Standard (SDDS). The mission reviewed and discussed source data collection issues for all GDP activities. The mission reviewed the compilation of some GDP aggregates. The methods for quarterly GDP discrete estimates follow international best practices. During the meeting with senior management, it has been agreed that all improvements suggested to source data would be taken into account and implemented. Moreover, cooperation with tax authorities should be sought to increase data coverage for small and micro units, as well as individual producers.
Keywords:
GDP; GDP by production; source data; statistical questionnaires; trade margins.; World Bank staff; IMF executive directors; staff team of the International Monetary Fund; Compialtion issue; SA business statistics division; Data collection; Special Data Dissemination Standard (SDDS); Consumer price indexes; Industrial production
Cover IMF Working Papers
Inflation in Transition Economies: How Much? and Why?
Mr. Atish R. Ghosh
Following very high inflation rates at the beginning of the reform process, most transition countries have succeeded in lowering their inflation to more moderate rates. Inflation rates in the Baltics, Russia, and other countries of the former Soviet Union are now typically in the range of 10–60 percent. This essay examines whether a further reduction in inflation may be necessary. It concludes that low inflation may be important for achieving remonetization of the economy and sustained output growth.
Keywords:
WP; inflation rate; monetization; GDP; Transition Economies; Inflation; Growth; rate of inflation; transition economy; monetization Pr; inflation elasticity; inflation stabilization; Demand for money; Production growth; Monetary base; Public expenditure review; Baltics; Eastern Europe