STATE-OWNED ENTERPRISES IN UZBEKISTAN: FINANCIAL PERFORMANCE, CHALLENGES, AND FUTURE PROSPECTS
State-owned enterprises (SOEs) play a crucial role in Uzbekistan’s economy, contributing significantly to GDP, employment, and public services. Despite ongoing reforms, the financial performance of SOEs remains a pressing concern, with a substantial number experiencing operational inefficiencies, losses, and reliance on state support. This study analyzes SOE trends from 2019 to 2023, focusing on their financial health, sectoral performance, and the extent of government interventions. While some SOEs, particularly in the mining and metallurgy sectors, have remained profitable, others, especially in the energy sector, have struggled due to inefficiencies and state-mandated social obligations.