Uzbekistan plans to reduce poverty level to 10% in 2024
Tashkent, March 2 -- 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. Measu...
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