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Former EBRD head Suma Chakrabarti supports strengthening of the state in the economy of Uzbekistan

Former head of the European Bank for Reconstruction and Development and adviser to the President of Uzbekistan on economic development, good governance and international cooperation Suma Chakrabarti supported the reduction of the state share in the economic sector of Uzbekistan. He announced this at the conference “The role of the financial market in ensuring sustainable economic development: legal and institutional barriers.”

“The goals and objectives set by Uzbekistan are broad in nature. In this regard, reducing the share of the state in the economic sector is also one of the very big steps. It is also of particular importance in the financial market and provides a further basis for regional cooperation, ”the former head of the bank stressed.

Chakrabarti also noted that the penetration of a number of international banks into the Uzbek market and the issuance of local bonds to the world market also testifies to the development of the capital market.

At the same time, according to Otabek Nazirov, director of the capital market development agency, the volume of trade in the capital market by the end of 2020 is 578 billion soums. Which is 32 percent more than in 2019.