ASSESSMENT OF FINANCIAL STABILITY OF STATE-OWNED ENTERPRISES IN UZBEKISTAN AND WAYS OF EFFECTIVE MANAGEMENT

Authors

  • Bo’riyev Suhrob Muzaffar ugli Master’s Student, ISFT Institute

DOI:

https://doi.org/10.55640/

Keywords:

Keywords: state-owned enterprise, financial stability, liquidity, profitability, solvency, corporate governance, public-private partnership, financial monitoring.

Abstract

This article examines the methodology for assessing the financial stability of state-owned enterprises (SOEs) in Uzbekistan and identifies effective management approaches. State sector enterprises constitute a fundamental component of the national economy, and their financial health directly affects the stability of the entire economic system. The research develops a comprehensive assessment framework based on financial analysis coefficients, liquidity, profitability and solvency indicators. Furthermore, opportunities for more effective management of state enterprises through corporate governance reform, transparency and digitalization are analyzed.

Downloads

Download data is not yet available.

References

1.Presidential Decree of the Republic of Uzbekistan No. PF-60, dated January 28, 2022, “On the New Development Strategy of the Republic of Uzbekistan for 2022–2026.” Tashkent, 2022.

2.Privatization Program approved by Presidential Decree of the Republic of Uzbekistan, April 21, 2025. Spot.uz, April 23, 2025. URL: https://www.spot.uz/oz/2025/04/23/privatization-2025

3.Ministry of Economy and Finance of the Republic of Uzbekistan. Information Note on Fiscal Risks of the State Budget. Gazeta.uz, November 3, 2023. URL: https://www.gazeta.uz/oz/2023/11/03/factors-budget/

4.National Investment Fund and Privatization of State Enterprises. Gazeta.uz, October 18, 2024. URL: https://www.gazeta.uz/oz/2024/10/18/privatization/

5.Presidential Directive on Reducing Production Costs and Improving Efficiency in State-Owned Enterprises. Spot.uz, November 20, 2025. URL: https://www.spot.uz/oz/2025/11/20/employees-state

6.Uzbekistan’s State Debt Exceeds USD 42 Billion. Gazeta.uz, May 29, 2025. URL: https://www.gazeta.uz/oz/2025/05/29/gov-debt/

7.Fitch Ratings. Uzbekistan: USD 5.1 Billion Privatization and Economic Outlook. Gazeta.uz, June 2026. URL: https://www.gazeta.uz/oz/2026/06/03/fitch-ratings-uzbekistan/

8.International Monetary Fund (2025). IMF Country Report No. 25/143: Uzbekistan – 2025 Article IV Consultation. Washington DC: IMF Publication.

9.International Monetary Fund (2025). IMF Country Report No. 25/144: Uzbekistan – Selected Issues. Washington DC: IMF Publication.

10.International Monetary Fund (2025). Uzbekistan: Staff Concluding Statement of the 2025 Article IV Mission, April 23, 2025. URL: https://www.imf.org/en/news/articles/2025/04/23

11.International Monetary Fund (2026). Uzbekistan: Staff Concluding Statement of the 2026 Article IV Mission, April 13, 2026. URL: https://www.imf.org/en/news/articles/2026/04/13

12.United States Department of State (2025). 2025 Investment Climate Statements: Uzbekistan. Washington DC: U.S. State Department Publication.

13.Altman, E.I. (1968). Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. Journal of Finance, 23(4), 589–609.

14.Beaver, W.H. (1966). Financial Ratios as Predictors of Failure. Journal of Accounting Research, 4, 71–111.

15.Megginson, W.L., Netter, J.M. (2001). From State to Market: A Survey of Empirical Studies on Privatization. Journal of Economic Literature, 39(2), 321–389.

16.OECD (2015). OECD Guidelines on Corporate Governance of State-Owned Enterprises. Paris: OECD Publishing.

17.Shleifer, A., Vishny, R.W. (1997). A Survey of Corporate Governance. Journal of Finance, 52(2), 737–783.

18.Tirole, J. (1994). The Internal Organization of Government. Oxford Economic Papers, 46(1), 1–29.

19.Zmijewski, M.E. (1984). Methodological Issues Related to the Estimation of Financial Distress Prediction Models. Journal of Accounting Research, 22, 59–82.

Downloads

Published

2026-06-13

Issue

Vol. 5 No. 6 (2026): Journal of Multidisciplinary Sciences and Innovations

Section

Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Authors retain the copyright of their manuscripts, and all Open Access articles are disseminated under the terms of the Creative Commons Attribution License 4.0 (CC-BY), which licenses unrestricted use, distribution, and reproduction in any medium, provided that the original work is appropriately cited. The use of general descriptive names, trade names, trademarks, and so forth in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.

How to Cite

ASSESSMENT OF FINANCIAL STABILITY OF STATE-OWNED ENTERPRISES IN UZBEKISTAN AND WAYS OF EFFECTIVE MANAGEMENT. (2026). Journal of Multidisciplinary Sciences and Innovations, 5(6), 993-998. https://doi.org/10.55640/

Similar Articles

31-40 of 3384

You may also start an advanced similarity search for this article.