This study explores the interaction between fiscal and monetary policies and their role in driving economic development in Uzbekistan and the broader Central Asian region. It assesses how coordinated policy frameworks influence growth, inflation, and macroeconomic stability. Using data from the IMF, World Bank, and the Central Bank of Uzbekistan, the paper finds that fiscal–monetary coordination significantly enhances economic resilience and long-term sustainability. The analysis also compares Uzbekistan’s experience with that of regional peers such as Kazakhstan, Kyrgyzstan, and international benchmarks like Poland and South Korea. The results reveal that harmonized policies promote investment, control inflation, and strengthen fiscal discipline. Policy recommendations are offered to improve coordination mechanisms and institutional frameworks for sustained growth.

Fiscal policy, monetary policy, interdependence and coordination, financial markets, the role of Central Bankers, medium-term fiscal frameworks and rules, the impact of fiscal expansion, economic development, Uzbekistan, Central Asia, policy coordination, inflation, macroeconomic stability.

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