The Institute was founded in 1968 and has 51-years of experience in forecasting and research of macroeconomic, monetary, financial, banking and social problems. During its activity, the goals and objectives of the Institute have changed to meet the requirements of the time:
Research Institute of Economics (1968);
Research Institute of Economics and standards with a Computer center (1986);
Research Institute of Economics and statistics (1992);
Research Institute of Economics and development of productive forces (1994);
Institute of macroeconomic and social research (1997);
Center for effective economic policy (2000);
Center for socio-economic research (2005).
In 2008 it was transformed into the Institute of forecasting and macroeconomic research under the Cabinet of Ministers, and since 2018 – under the Ministry of economy and industry. Since 2020 according to the Decree of the President of the Republic of Uzbekistan no. up-5975 dated March 26, 2020 "on measures for a radical update of state policy in the field of economic development and poverty reduction", it has been transformed into the Institute of forecasting and macroeconomic research under the Ministry of economic development and poverty reduction.
The Institute has always been and remains one of the most authoritative research centers of the Republic in the field of Economics.
The authority of the Institute was formed by years of hard and selfless work of its best representatives. The Institute employed 4 academicians, more than 30 doctors of science and professors, and more than 100 candidates of economic sciences. Employees of the Institute participated in the preparation of the Declaration of independence of the Republic of Uzbekistan, the development of the "Uzbek model" of economic reform and development.
Currently, the Institute is actively participating in preparation of strategy for further development of the Republic of Uzbekistan during the period of 2017-2021. This process includes active involevent of the Institute in conceptual and strategical policy formulation for key inductries and sectors of the economy. For this purpose, the Institute undertakes high quality research analyses on macroeconomic issues and based on that forecasts on actual problems of the domestic economy.