Reform: Capital Market Development Reform (2023-12-19)

Second assessment of the Capital Market Development Reform was conducted on December 20, 2023. Attendees of the public-private dialogue discussed the main activities planned within the Capital Market Development Strategy 2023-2028 and action plan for 2023-2024. The stakeholders engaged in a discussion about the objectives of the strategy and the ways to achieve them. 

According to the Government

According to the government survey, 35.9% of the proposed reform activities have been completed. Among the survey components, the legislative framework has demonstrated the highest progress, reaching 51.8%. Positive evaluations were also given to activities related to institutional setup and capacity development. However, the indicator concerning infrastructure and budget, which includes only two planned activities for 2024, indicated a low level of performance.

Governmental surveys evaluate progress in reform implementation across four domains:

  • the legal framework;
  • infrastructure and budget;
  • institutional setup;
  • and capacity development.

This survey measures the government’s distance from the stated reform objectives on a scale of 0% (no action has taken place) to 100% (all the desired systems have been fully implemented, monitored, and evaluated)