Salaries and pensions are set to increase twice in 2023 in Uzbekistan, Director of the Forecasting and Macroeconomic Research Institute (IFMR) Umid Obidkhojayev informed "Daryo".
According to him, it was decided to allocate UZS 6.7 trillion from the state budget to increase pensions by 12% from June 1 and wages by 10% from October 1.
Due to higher global gold and copper prices than forecasted (an additional UZS 4.5 trillion) and an increase in customs revenues (an additional UZS 3 trillion) to the state budget, it was decided to increase wages and pensions again.
Daryo.uz has previously reported about pensions and allowances increasing by 7% from April 1, and salaries increasing by 7% from May 1 (in this case, the additional expenses of the budget were set to UZS 2.2 trillion).
Increases (an additional UZS 5.6 trillion) in pensions, allowances, and salaries of public sector employees are planned from September 1. Thus, the salary of employees working in budget organizations in Uzbekistan is expected to increase by a total of 17.7% in 2023.
According to the forecast of the Central Bank, in 2023, the annual inflation will be at the maximum level of 9.5%, and the real salary of budget employees will increase by 8.2% during the year. This is the highest rate observed in Uzbekistan in recent years.
It is expected that 6.5mn citizens will benefit from these activities. Among them are 4.4mn pensioners and 2.1mn workers.
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