ENSURING SUSTAINABLE ECONOMIC GROWTH THROUGH THE DIVERSIFICATION OF THE NATIONAL ECONOMY

Abstract

This research paper provides a comprehensive analysis of ensuring sustainable economic growth through the diversification of the national economy. In the context of modern globalization, countries are striving to expand their scope of economic activities and move away from mono-sectoral development to ensure economic stability. Diversification serves to mitigate risks, enhance export potential, and stabilize economic growth by developing various sectors of the economy. Using the economy of Uzbekistan as a case study, the research analyzes the processes of diversification, its priority directions, and outcomes. Specifically, it substantiates that economic growth rates can be stabilized through industrial development, modernization of agriculture, expansion of the service sector, and the implementation of innovative technologies. Furthermore, the international experiences of countries such as South Korea, China, and Germany regarding their diversification policies were examined. The results of the study indicate that economic diversification is one of the fundamental factors for long-term sustainable growth. The paper employs statistical data, economic modeling, and comparative analysis methods. Based on the findings, practical recommendations have been developed to accelerate the diversification of Uzbekistan's economy.