Nearly four in ten people in Uzbekistan did not set aside any savings last year, according to a new study conducted by the Central Bank with support from the Asian Development Bank (ADB). The findings point to persistent financial vulnerability among the population, with notable disparities by region, education level, and employment status.
The survey, conducted between January and February 2025, covered 1,200 individuals across six regions — the Republic of Karakalpakstan, Kashkadarya, Fergana, Samarkand, Jizzakh, and the capital Tashkent. Additional focus group discussions were held in Khorezm, Andijan, Surkhandarya, Bukhara, and Tashkent at the end of 2024 to gather qualitative insights.
According to the results, 39% of respondents reported having no savings in the past 12 months. The rate varied significantly by location — just 25% of Tashkent respondents reported no savings, compared to a striking 54% in Karakalpakstan.
The survey found that savings behavior correlates strongly with education and age. While only 15% of respondents held higher education degrees, those with lower levels of education were less likely to save. Among individuals with just 8th or 9th grade education, 53% had no savings last year.
Age also played a role: 46% of pensioners said they had not saved, while students emerged as the most active savers. By gender, women made up 60% of the total survey participants, while 55% of all respondents lived in cities.
The study highlights that financial resilience remains uneven across Uzbekistan, with rural residents, less-educated individuals, and the elderly facing greater economic challenges. Conducted through face-to-face interviews by the Expert Opinion Socio-Economic and Marketing Research Center, the study offers an in-depth look into the country’s savings culture amid ongoing economic reforms.
The Central Bank and ADB noted that the findings will help guide future financial inclusion and education initiatives aimed at strengthening household financial security across the country.
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