Uzbekistan plans to reduce poverty level to 10% in 2024

According to the institute of Macroeconomic and Regional studies, poverty reduction in Uzbekistan decreased from 14.1% to 11% last year. The country also aims to reduce poverty level to 10% in 2024. What were the main factors contributed to the poverty rate decrease?

Firstly, the country achieved stable economic growth of 6.0% in 2023, which slowed down inflation, thus increasing people's purchasing power for essential food items.

Secondly, the total income of the population rose by 115.0% compared to 2022, with income from work increasing from 61.6% to 64.0%, further alleviating poverty. Additionally, the average monthly salary increased significantly by 117.2% in 2023, benefiting most regions and industries. Measures such as raising the minimum wage and increasing salaries, pensions, scholarships, and allowances by 14.0% also contributed to poverty reduction.

Moreover, efforts to increase employment played a crucial role, with 4.1 million people being employed in 2023, including through paid public works and self-employment. Cooperation agreements with thousands of business entities aimed at employing 455,000 people, along with financial support for family business projects and unemployed citizens, further aided poverty reduction. Land allocation for agriculture, vocational training for unemployed individuals, and attention to empowering young people and women from poor families also contributed to the decrease in poverty. Looking ahead, Uzbekistan aims to reduce the poverty level to 10.0% by 2024, as part of the "Uzbekistan-2030" strategy.