Research Article Open Access

THE EFFECTIVENESS OF FINANCIAL AND MONETARY INSTRUMENTS OF SUSTAINABLE DEVELOPMENT IN TAJIKISTAN’S ECONOMY AND WAYS OF IMPROVING THEM

Abstract

This study analyzes financial and monetary instruments and investigates ways of improving them, with a view to achieving a sustainable economic development of Tajikistan. It was proven that the period of economic transformation significantly changed the perception of the role of financial and monetary instruments in economic development and reinstated their priority in the system of state regulation of an emerging market economy. Nowadays, the state economic policy should take into account the development priorities of global markets and the rules and regulations of global competition. Further stabilization of the monetary sphere should bring with it a gradual reduction in reserve requirements, which will improve the conditions for attracting funds by banks and public institutions and enhance the competitiveness of commercial banks in general. Improvement of the mechanism of monetary and fiscal policy within the framework of the general state economic policy should contribute to the advancement towards macroeconomic balance, including internal and external balance of the economy, optimal combination of parameters of economic growth, employment, price of goods and services, and payments to the country.

ABDULLO MIRAZIZOV, ILMIRA RADZHABOVA,MINISA ABDULAEVA, NURALI RASULOV, MASHRAB FAIZULLOEV, AVAZ MAMATKULOV, DILMURODI DAVLATZODA, HOLMAHMAD AZIMOV, GULCHEHRA DZHURAEVA, BAKHTIYOR AHMADOV

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