Update on Poverty Threshold in Uzbekistan
The minimum consumption expenses in Uzbekistan have been set at 568,000 soums per person per month, according to the latest information from the Statistics Agency. This amount is 12.4% higher than last year’s minimum consumption expenses.
It is important to note that the calculation of the minimum consumption expenses for 2023 was based on the annual inflation rate in 2022. The value of 568,000 soums per person per month was determined using this calculation.
To provide some context, the minimum consumer spending in Uzbekistan was 440,000 soums in 2021. From January 2022, it was increased to 498,000 soums. The latest amount of 568,000 soums represents a 12.4% increase compared to the previous year.
In global practice, the minimum consumption expenditure is commonly used as a poverty threshold. It serves several purposes, including determining the target group in need of social assistance, establishing the poverty threshold of the country, and guiding strategies and programs to combat poverty. It also serves as a criterion for determining the minimum amount of pensions, allowances, and other forms of financial support provided to poor families.
Setting the minimum consumption expenses is an important step in ensuring the well-being of individuals and families in Uzbekistan. It reflects the changing economic conditions and aims to address the needs of the population in the target group. By continuously monitoring and adjusting these expenses, the government can effectively target and support those who require assistance in meeting their basic needs.
Overall, the increase in the minimum consumption expenses in Uzbekistan is a reflection of the changing economic landscape and the government’s commitment to addressing poverty and improving the quality of life for its citizens.
