REASONS FOR THE EMERGENCE OF ECONOMIC GROWTH AND DECLINE PERIODS: ON THE EXAMPLE OF THE REPUBLIC OF KARAKALPAKSTAN
Abstract
This abstract summarizes the economic history of the Republic of Karakalpakstan by dividing it into two main periods: the Soviet Union era (1920-1991) and the independent Uzbekistan era (1991-2025). During the Soviet period, the region transitioned from agriculture to industry, leading to initial economic growth. However, from the 1980s onward, an ecological catastrophe, primarily linked to the drying of the Aral Sea, caused a severe economic decline. Following independence, the republic faced initial hardships due to inherited problems, but after 2010, the economy began to grow rapidly, driven by foreign investment, industrial modernization, the establishment of free economic zones, and support for entrepreneurship. In conclusion, the text examines the primary reasons for the region's economic decline and growth—such as the Aral Sea crisis, geographical conditions, governance, and investments—demonstrating that Karakalpakstan is now in a phase of stable development.
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