Moody’s upgrades Uzbekistan’s credit rating by one notch

International rating agency Moody’s has upgraded Uzbekistan’s credit rating by one notch to Ba2 with a stable outlook. Head of the Presidential Administration of Uzbekistan Saida Mirziyoyeva wrote this on her Telegram channel.

Saida Mirziyoyeva noted that this is the result of systematic efforts being carried out under the President’s leadership to strengthen the country’s economic potential.

“What does this indicator mean in practice? It means investments on more favorable terms, cheaper financial resources, new enterprises and additional jobs,” the Head of the Presidential Administration said.

She also noted that there is still much work ahead.

“Our main goal is to build a strong, open and competitive economy that ensures a decent future for the citizens of Uzbekistan,” Saida Mirziyoyeva said.

Earlier, it was reported that international rating agency Fitch had improved the outlook on Uzbekistan’s sovereign credit rating from stable to positive.