INNOVATIVE ECONOMICS

Most scientists consider innovation to be the main driving force of economic and social development. Innovative activity has brought the world community to a new higher stage of development. There are many views and approaches to defining the term innovation. Some recognize innovation as the final result of innovative activity presented in the form of a new product while others define innovation as some kind of new technological process that is applied in practice. Innovations have a huge impact on the economics. Today innovations are widely used in all aspects of the socio-economic life of society because it is extremely difficult to imagine the development of society without innovations. As a result of the implementation of systemic reforms aimed at increasing the competitiveness of the national economy in Uzbekistan in 2023 Uzbekistan ranked 82nd among the countries of the world in the Global Innovation Index. The Uzbekistan-2030 strategy sets the tasks of ensuring macroeconomic stability in the country maintaining rapid economic growth rates and bringing our country into the top fifty innovatively developed countries by 2030.