Science and Education in Karakalpakstan issn 2181-9203 Science Magazine chief editor

 
 
Table 3.1 
 
Macroeconomic monetary indicators in the Republic of Uzbekistan 
(percent) 
Monetary indicators 
2018 y. 
2019 y. 
2020 y. 
2021 y. 
Annual rate of inflation 
14,3 
15,1 
11,1 
10,0 
Central bank refinancing rate 
16,0 
16,0 
14,0 
14,0 
The average annual interest rate of 
loans of commercial banks issued in 
national currency 
20,5 
24,2 
22,3 
20,8 
From the data of Table 3.1, it can be seen that in our republic in 2018-2021 there was a 
downward trend in the annual rate of inflation. This is considered a positive case in terms of 
increasing the role of the national monetary system in the development of the country's economy. 
From the data presented in Table 3.1, it can be seen that in 2018-2020 the refinancing rate of 
the Central Bank of the Republic of Uzbekistan had a rate of decline. This is explained by the fact 
that during this period the inflation rate has a downward trend. 
Table 3.1 data shows that in our republic in 2019-2021 there was a tendency to decrease the 
average annual interest rate of loans of commercial banks issued in national currency. This is 
explained by the fact that during this period the central bank has a rate of reduction in the 
refinancing rate. 
The adequacy of the deposits of commercial banks of progressive countries is ensured, and 
the volatility of the deposits required in the volume of brutto deposits usually does not exceed 30 
percent. On top of that, the current liquidity of these banks is mainly provided at the expense of 
investments in government securities. For example, as of January 1, 2021, the balance of 
investments in government securities in the total volume of Benk of American assets was 11.1 
percent . 
Conclusions and suggestions 
The following pressing problems have been identified, which are associated with improving 
the practice of financing investments in the tourism sector: 
* lack of funding sources; 
* weak cash flow of economic entities operating in the tourism sector; 
* failure to improve risk management practices associated with investment projects; 
*low level of use of loans of commercial banks by entities of the tourism industry (lack of 
long-term resources in commercial banks; large amount of overdue loans in banks; high interest 

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