Representatives of the banking system and other financial institutions participated at the conference, the Central Bank said.

The conference considered development of the banking system of Uzbekistan in cooperation with other countries, including economic and sectoral risks.

It was noted that banking sector of Uzbekistan and the government has low debt burden, low external debt and there is no price bubbles in economy. These are positive moments for Uzbekistan.

It was stated that economic sustainability and funding of the banking system of Uzbekistan meets levels of the banking systems of other countries, but assessments of misbalances and credit risks are lower compared to similar states.

Speaking about economy of Uzbekistan, foreign experts underlined that global financial-economic crisis did not impact to economic growth of the country.

In last five years, GDP growth of Uzbekistan makes u 8% in average, Standard & Poor’s analyst Sergey Voronenko said. He said that Uzbekistan’s economy will continue to grow due to state investments into industry and infrastructure.

It was noted that share of industry is growing in the GDP share due to deep processing of raw materials.

Significant budget surplus and current account surplus, low risks related to global financial markets and volatile prices to main export raw materials are positively impact to economy.

The agency noted that the banking system of Uzbekistan is growing and forecasted that the growth of crediting will outstrip GDP growth by about 30-40% a year. The penetration of banking services will grow gradually.

Foreign experts positively rated that traditional loan and deposits markets prevail in the financial market, cautious approach of commercial banks at financing innovative and highly risked projects, as well as growth of the capitalization of the bank due to internal resources.

Experts also positively rate creation and use of National Institute of credit information. It was said that adoption of law “On pledge registry” will improve process on claiming debt.

It was stated that monetary policy of the Central Bank is an effective tool for macroeconomic stability and strengthening of supervision and competition in the banking system, decreasing risks level, etc.