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SMEs as the Boosters of Economic Growth in Uzbekistan

18 January 2022

SMEs account for around 90 percent of all businesses worldwide, employ around 50 percent of the global workforce, generate up to 40 percent of national income in many emerging economies, and are essential contributors to job creation and economic development. In Uzbekistan, in 2020, SMEs were the biggest source of employment, providing approximately 73.8 percent […]

Introduction of International Financial Reporting Standards (IFRS) in Uzbekistan

18 January 2022

International Financial Reporting Standards have become a worldwide common accounting language, and most countries adopted it. From 2015, Uzbekistan also joined IFRS and required certain selected public companies and banks to follow these standards. The Law on Accounting of 1996, as amended, establishes basic accounting and bookkeeping requirements for all legal entities in the Republic […]