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Development of the financial market is an important factor in further liberalization of the economy of Uzbekistan and creation of favorable conditions for entrepreneurship, the press service of the president of Uzbekistan stated citing Shavkat Mirziyoyev.

He made the remarks at a meeting on the country's socio-economic development for the past nine months, as well as the results expected by the end of the year.

“Liberalization of the foreign exchange market requires increasing liquidity of the economy and directing free funds to implementation of important investment and infrastructure projects. In turn, it is important to develop the capital market, to attract free funds of economic entities, banks and insurance companies to important projects. Implementation of new reforms in this direction will expand possibilities for balanced financing of state budget expenditures,” the president said.

The head of state gave instructions for development of the capital market in accordance with the Strategy of Actions, for issuance of securities to attract free funds of economic entities, commercial banks and insurance companies.

In 2018, joint-stock companies of Uzbekistan have significantly increased the volume of issue of securities. A large majority of corporate bonds in Uzbekistan fell on the share of commercial banks.

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