On March 14 of this year, a videoconference was held with representatives of the Ministry of Finance and experts of the international rating agency "Fitch Ratings" in order to prepare for the agency's rating committee.

During the videoconference, experts of the international rating agency “Fitch Ratings" had the opportunity to get informed on measures to implement structural reforms aimed at maintaining macroeconomic stability and ensuring sustainable economic growth in the Republic of Uzbekistan in the long term.

In particular, macroeconomic outlook expected this year, the impact of the global economic processes on the national economy, factors for ensuring key indicators determined by the approved state budget, available international and fiscal reserves, measures to maintain state debt at a safe level, ongoing projects in the field of public-private partnership and the country's position in international ratings and indices were discussed in detail.

In 2018, the sovereign credit rating of the Republic of Uzbekistan was rated at "BB -" (stable) by the international rating agency "Fitch Ratings", the macroeconomic situation in the Republic, and ongoing reforms are regularly discussed.

 

In particular, the agency's latest report notes that along with the upside and downside factors of the country's sovereign credit rating, the complexity, deadlines and final goals of the potential reforms to be implemented by the Republic of Uzbekistan serve as a kind of test for the institutional potential of the state.

Source: Ministry of Finance of the Republic of Uzbekistan