Book Offers Progressive Analysis of Economic Crisis & Current Situation in Uzbekistan, Says Former Belgian PM
The book by President Islam Karimov “The global financial-economic crisis, ways and measures to overcome it in the conditions of Uzbekistan” produced a keen interest in the representatives of social, political, scientific, expert and analytical circles of foreign countries.
And here is what Mark Eiskens, the State Minister, Former Prime Minister of Belgium, said of the book and the unfolding situation in the Uzbek economy, as a whole, vis-à-vis, perhaps, the worst economic crisis in the recent history of entire globe.
“The book by President of Uzbekistan Islam Karimov on the global economic crisis is quite timely, and it was interesting and professionally informative for me to read it. At the same time, this work is the one in its kind since there are no such books written by heads of foreign states. This book testifies about the personal contribution by the President of your country, as well as his concepts which I believe are exclusively competent. This is an exemplary step. I am deeply impressed with not only the fact that such work has been published but also with its content in which I saw the progressive analysis of the economic situation in Uzbekistan as well as the problems related to the global crisis and ways of tackling them. All this allows to pinpoint the prospect of the future development of the country, puts confidence in successful mobilization of all capabilities available to it.”
The banking system of Uzbekistan is less impacted by the global financial crisis compare with many other countries. This is explained by that the banks in Uzbekistan allocate loans on reasonable conditions, and the book offers many facts and figures, which confirm that Uzbekistan’s banks have been duly capitalized. That is to say, the country has provided for an optimal correlation between the net capital and credits. Such correlation is very important to avoid the banks be subjected to ill-considered risks as is the case in other countries, and this is an absolutely positive moment.
President of Uzbekistan Islam Karimov has an absolutely balanced vision of the economic future of the country:
First, there is a process of globalization and the world turns into a one and united market. Second, there should be a mutual supplement between the market, private initiative and state. It is also necessary so that the authorities can regulate the functioning of the market since it is based somewhat on the principles of Darwinism – “the strongest survives in the struggle for life” – this is a law of the market otherwise there is not a profitability. The economists now speak about the linkage of cooperation and competition. Thus, the two component parts – the market and government – must go side by side.
In order to counteract the challenges of the future it is necessary to concentrate attention and this is clearly underscored in the book by President Islam Karimov – on the development of new technologies. One must ensure, as the economists put it, the innovative competition.
A lot is being done in Uzbekistan to develop education and extend the scientific research and all this is very important for expanding ties with other countries. For example, there is a student exchange program, namely, Erasmus in Europe and it would be useful to see what it could be done along with Uzbekistan.
I look forward to go to Uzbekistan. I have seen documentary films about your beautiful country. I have read a lot about history, historical cities and rich culture of the Uzbek people. From of old Uzbekistan has been taking an important place in the history of development of mankind. What I have learned by reading the book by President Islam Karimov gives confidence in that Uzbekistan has implemented policy measures capable to reliably protect the country and its people from the global financial crisis.”
Information Agency “Jahon” with Ikboljon Soliev contributing in English