DEVELOPMENT OF THE DIGITAL ECONOMY IN UZBEKISTAN AND IMPACT ON ECONOMIC GROWTH

Аннотация

The digital economy plays a crucial role in the economic development of countries worldwide. In recent years, Uzbekistan has been implementing significant reforms to enhance the digital economy. This article examines official decisions, their implementation, and outcomes concerning the development of the digital economy in Uzbekistan. Additionally, it explores theimpact ofdigital technologies oneconomic growth. Keywords:digital economy, innovations, technologies, e-government, economicgrowth. The modern economy is unimaginable without digital technologies. World experience shows that thedigital economy is one of the main factors in ensuring the economic stability of countries and their integration with global markets. Today, the digital economy is considered an important factor in economic development worldwide. The rapid development of digital technologies is bringing fundamental changes to all sectors, from production processes to services and the financial system. Thedigital economy is an economic system that involves automating economic processes, increasing efficiency and forming new business models through the use of information and communication technologies (ICT). Globally, the digital economy is becoming an important component of gross domestic product (GDP) growth. According to the World Bank and the International Monetary Fund, the share of the digital economy in some developed countries is 25–30% of GDP. For example, in the United States, China, and the European Union, artificial intelligence, Big Data analysis, blockchain, and automated systems are becoming important factors of economicgrowth. This article analyzes the impact of the digital economy on economic growth, its advantages and challenges, as well as changes in public policy and the business environment. The main goal is to study the role of the digital economy in economic stability and innovative development, and toshow ways toeffectively implement it. Official decisions on the development of the digital economy in Uzbekistan. Special attention is being paid to the development of the digital economy in Uzbekistan. Within the framework of the "Digital Uzbekistan - 2030" program for 2020-2025, comprehensive measures are being implemented to automate public administration, expand electronic services, develop the startup ecosystem, and improve IT education. Within the framework of this program, such priority areas as: Development ofthe electronic government system; Digitizationof publicservices; Introduction ofinnovations inthe banking and financial sector; Expansion ofe-commerce and payment systems; Introduction of information technologies into the production and education system have been identified. Themostimportant documents adopted in Uzbekistan inrecent years: The“Digital Uzbekistan -2030” program for 2020–2025. Themain goal: completedigitalization ofpublicadministration, economy and social sectors. Result:morethan 80%ofpublicservices have been transferred online. https://ijmri.de/index.php/jmsi volume 4,issue5,2025 597 Presidential Decree “On the Development of Electronic Government and Acceleration of the Digital Economy”dated April 7,2021. Main directions: introductionof electronic publicservices and blockchain technologies. Result: The “Electronic Government” system has been expanded and more than 200 services are provided online. Measures to develop the“Open Data Portal”and artificial intelligence technologies. Goal: integration ofdigital technologies into businessand publicadministration. Result: the banking sector and financial markets have been digitized, resulting in simplified credit and payment systems. Impact of the digital economy on economic growth. The digital economy impacts economic growth through thefollowing aspects: 1.Impact onemployment and thelabor market. Newprofessions are emerging as aresult of thedevelopment oftheIT sector. Opportunitiesto work from homeare increasing. Freelance and outsourcing services are developing. 2.Development ofe-commerce and business. In 2023,thevolumeofthe e-commercemarket reached 10trillionsoums. Online payment systems have developed, and the number of international transactions has increased. 3.Digital financial sector and banking services. Mobilebanking and onlinelending services are expanding. Thenumber offintech companies has increased sharply. 4.Digital technologies in publicadministration. Publicservices have accelerated and excessivebureaucracy is disappearing. Theopendata portal is helping tofight corruption. The digital economy has become an integral part of today's global economy and is emerging as a new driver of economic growth. Its impact on economic development depends on the following key factors: Increasing production efficiency Artificial intelligence (AI), big data analysis, and automation processes help improve the efficiency of enterprises. Digital technologies reduce production costs, help use resources more efficiently, and increaselabor productivity. New mar