The book by President of Uzbekistan Islam Karimov “The global financial-economic crisis, ways and measures to overcome it in the conditions of Uzbekistan”, which was published in Tashkent in March this year, has drawn a wide response of the foreign political, economic, business and public circles, as well as the mass media.

“Despite all economic problems which most of the countries of the global village are encountering, Uzbekistan, thanks to the leadership of President Islam Karimov, has turned into a model of economic growth and progress,” said Dr. P.Morvij, the director of the Global Science Publications Center and professor at the State University of New York.

The country, which is not one of the largest exporters of oil, like some other CIS countries, for over the past five years has been able to secure 7 -, 8 - and even 9-percent GDP growth. In 2008 the gross domestic product of Uzbekistan grew and made up 109 percent. Most importantly, the growth rates in Uzbekistan’s industrial sector accounted for 112,7 percent, including in the sphere of production of consumer goods – 117,7 percent – and this takes place at a very time, when we speak about the threat of de-industrialization in many developed countries of the world and heightened risks of the global crisis for the rapidly developing countries of Asia, Dr. P.Morvij also said.

At the same time, Dr. Morvij suggested to dwell particularly on the two main economic indicators, which as he had believed, would allow Uzbekistan to more easily overcome the current global economic crisis:

“First, the correlation between the foreign national debt and gross domestic product in Uzbekistan is one of the lowest in the world. It accounts for 13,3 percent against the size of the Uzbek national economy for over the last year,” the American scholar has underscored. “This figure stands for a cumulative but not only the state debt of Uzbekistan, that is to say, it includes the debts of the Uzbek banks, corporations and other economic entities. If to look at the data on foreign liabilities of other CIS countries then it will be easy to understand to what extent difficult position they have found themselves in.”

“Second, the substantial surplus of the foreign trade turnover. Last year the positive balance of Uzbekistan’s foreign trade operations made up over 4 billion dollars, which has well served for accumulation and rapid growth of the nation’s currency reserves. In 2008 Uzbekistan’s foreign trade turnover grew by 21,4 percent and the export of goods and services grew by 28,7 percent. This is an encouraging sign since the exports will always stand pivotal for any economy and particularly for the countries with a substantial number of population.”

“Uzbekistan is a self-sufficient state in terms of ensuring the foodstuff and energy,” Dr. Morvij further said, “annually the country produces over 6 million tons of grain. It is difficult to overestimate this fact if to look at the problems of slowdown of domestic production of foodstuffs and lost of cattle which many countries of Central Asia and other regions have been encountering that suffer from various unfavorable factors being yet worsened under the impact of global food and energy crisis.”

Dr. Morvij believed that Uzbekistan should be applauded not only for its economic growth but also for the improvement of state and constant growth of living standards of its citizens. In this context, he said that to achieve such goals the Leadership of Uzbekistan has concentrated its efforts on the two directions:

“First, this is ensuring human rights, consolidation of national accord and religious tolerance, rule of law, education and economic growth for the purposes of having higher standards of life for its citizens. Besides, the Government of Uzbekistan has expanded the sphere of social services and healthcare to ensure higher living standards and welfare for its people, as well as has been implementing several projects in terms of establishing national educational institutions at the level of a secondary school, professional colleges and research institutes and universities.”

“Second, this is a concentration of foreign policy conducted by President of the Republic of Uzbekistan Islam Karimov on creating favorable political and economic harmony in the region. Thanks to its Leadership, at the moment Uzbekistan is a truly sovereign state with stronger and balanced economy.”

Dr. Morvij has compared the world nations with sailors that navigate aboard one ship at the turbulent waters (meaningfully, among economic and ecological problems). He believed that the United States must develop the constructive cooperation with Uzbekistan, at least, for two reasons:

“First, the Central Asian region is a gate on the way to Afghanistan, China, Muslim nations of the Middle East and India. In this context, we must consider the constructive economic growth of Uzbekistan as a model for developing and turning Central Asia into economically self-sufficient region.”

“Second, President Islam Karimov plays a key role in strengthening the economic ties with other countries in the region. In his state political activity a main attention is being paid to ensuring stability, economic growth and political cooperation.”

Information Agency “Jahon” with Ikboljon Soliev contributing in English

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