INFLATION PROCESSES AND THEIR INTERRELATION WITH THE BALANCE OF PAYMENTS OF TAJIKISTAN

In the context of globalization of the world economy, the problem of inflation also takes on a global character, since the strengthening of integration processes leads to significant vulnerability of an open economy to external influences. This is especially true for inflation processes, since inflation processes are more vulnerable to external influences. In this regard, there is a need to study the peculiarities of the influence of foreign economic factors on the dynamics of the inflation rate. The impact of foreign economic factors occurs in different directions: foreign trade, investment and financial flows, etc. The balance of payments includes all areas of foreign economic relations, based on this, the relevance of the study of the balance of payments as one of the main factors of inflation in an open economy increases. The proposed article analyzes the existing relationships between inflation processes and the balance of payments and the structural components of the balance of payments. At the same time, the specifics of the influence of the balance of payments on the main factors of inflation – supply and demand in the short and long term are revealed. The article also discusses the features of the influence of the balance of payments and the exchange rate on inflation processes using the example of the Republic of Tajikistan. Also, in order to identify existing inflation trends in the Republic of Tajikistan, an analysis of the relationship between the exchange rate and the balance of payments was carried out.

inflation processes, inflation factors, globalization, balance of payments, trade balance, financial and investment flows, exchange rate dynamics.

1. Akhmedova M.M. The problem of inflation in conditions of instability of the exchange rate (using the example of the Republic of Tajikistan). // Collection of materials of the XVI international scientific and practical conference “Challenges of modernity and strategies for the development of society in the conditions of the new reality”, Publishing House “Aleph”, Moscow April 25, 2023. pp. 348-352.

2. Akhmedova M.M. Regulation of inflation processes in an open economy (using the example of the economy of the Republic of Tajikistan) Publishing house of the Federal State Budgetary Educational Institution of Higher Education “Russian Economic University named after. G.V. Plekhanov” Scientific and practical peer-reviewed journal STATISTICS AND ECO-NOMICS, Volume 16. No. 3, Moscow, 2019. P.4-14.

3. Burtseva T. A., Frenkel A. A., Tikhomirov B. I., Surkov A. A. Measuring the inflation ratein conditions of macroeconomic instability ENSR No. 4 (99) 2022 P. 63-75.

4. Burtseva T. A., Frenkel A. A., Tikhomirov B. I., Surkov A. A. Monitoring inflation in the context of the new geopolitical reality: World of new economics T. 17, No. 2, 2023 P. 48-61.

5. Knobel A.Yu., Orlova A.N., Ponomarev Yu.Yu. The influence of the exchange rate on the balance of payments in a modern economy. RAS KhiGS, 2013. [Electronic resource] https://bit.ly/2tLHUYb (access date: 04/14/2018).

6. Nikitina M.G., Butsenko I.N., Selyunina V.S. Balance of payments as a mechanism for determining trends in the development of foreign economic relations and an indicator of the macroeconomic balance of the Russian economy // Finance and Credit. – T. 25, No. 2. Moscow, 2019. P. 375 – 391.

7. Frenkel A.A., Sergienko Ya.V., Tikhomirov B.I., Matveeva O.N., Roshchina L.S. The Russian economy is in the grip of stagflation Economic strategies | No. 3/2016 P. 56-61.

8. Yu Yunding, Zhang Bin, Zhang Min. RMB exchange rate: fixed against a basket of currencies with a wide range of fluctuations. Social and human sciences. Domestic and foreign literature. Series 9: Oriental and African studies. No. 3 2017. pp. 97-104.

2026-03-27