Wages, social benefits and pensions in 2023 will increase by more than 9.3% in Uzbekistan. This is stated in the information magazine "Budget for Citizens" of the Ministry of Economy and Finance of Uzbekistan, Nova24.uz reports.
The draft budget of Uzbekistan for 2023 provides funds in the amount of 15 trillion soums for transfers to an off-budget pension fund for the timely implementation of expenses and ensuring a balance of its income and expenses.
The state budget of Uzbekistan for 2023 was formed in the context of global shocks and growing economic uncertainty, the information says. It is expected that due to external threats, the economy will grow at a slower pace than planned.
A slowdown in growth is projected across all major sectors of the economy in 2023:
- industrial growth will slow down to 5.1%,
- construction — up to 6%
- service sector - up to 6.7%.
In 2022, the inflation rate was 12.3% in Uzbekistan. Against the background of external risks and other factors affecting domestic prices, this shifts the achievement of the inflation target of 5% from 2023 to 2024-2025.
In 2023, inflation is expected to reach 9.5%.
CentralasianLIGHT.org
March 10, 2023