著者

吉田 悦章

出版者

立命館大学 アジア・日本研究所

雑誌

立命館アジア・日本研究学術年報 (ISSN:2435421X)

巻号頁・発行日

vol.4, pp.45-69, 2023 (Released:2023-09-20)

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This paper is intended to comprehend the recent fiscal behavior of the Government of the Republic of Uzbekistan, focusing on its measures against the Covid-19 pandemic, which was first found in the country in March 2020. The fiscal discipline of the Republic has been regarded as prudent, and as shown in several statistics, it has a low level of public debt compared to its GDP. The Government responded quickly upon the outbreak of the pandemic to cope with the social and economic downturn, partly sacrificing its prudent fiscal discipline. This paper depicts and analyzes the facts and background of the situation, not just by referring to statistical development, but also by observing political considerations as well. Furthermore, this paper describes a recent government initiative of issuing sukuk (Islamic bonds). In conclusion, the fiscal situation of the Republic is evaluated as stable, and forecasted to remain so unless several worse-than-expected scenarios happen.