Review.uz/en - Economic Review

2021-06-03 13:10:00 Umid Aliev: The minimum consumer spending will allow measuring poverty within certain groups, for example, children

The social policy advisor of the #UNICEF representative office in the Republic of Uzbekistan, commented on the determination of the cost of the minimum consumer spending #MCS in Uzbekistan:

-Today 1/3 of the population of Uzbekistan is children and youth, and in 2030-2050 the country will have a historic opportunity to receive a demographic dividend.

Introduction of a national poverty line allows measuring wellbeing of people in Uzbekistan while reflecting peculiarities of the lifestyle in the country.

Regular monitoring of poverty boosts effectiveness and efficiency of poverty reduction programs.

The indicator also serves as a benchmark in establishing levels of social benefits.

UNICEF is ready to provide full assistance to reduce the poverty among children.

UNICEF research indicates that child poverty is of the main obstacles to human capital development.

Being stunted is a main sign of child undernourishment, which is usually caused by poverty.

As research findings show income of people who suffered from being stunted in childhood is on average 26% lower than for those who did not have such problems.

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2021-06-02 17:19:49 Uzbekistan-Pakistan trade begins via Afghanistan

For the first time, trade between Pakistan and Uzbekistan has begun via Afghanistan. It is being hailed as an important step towards economic development in the region.

This trade is currently taking place under an international convention, according to officials. The two countries are expected to sign a formal agreement soon.

In May, Pakistan sent a truck from the Karachi port to Tashkent via the Torkham border crossing. The truck carrying medicine and other medical supplies reached Tashkent in 48 hours. It returned to Faisalabad after two days, carrying leather products.

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2021-06-02 16:58:53 Uzbekistan and Afghanistan signed contracts for the export of goods and implementation of investment projects for $655 million

At the Uzbek-Afghan business forum in Termez, companies of the two countries signed 199 contracts for $655.1 million for mutual supplies of goods and implementation of investment projects.

As part of the signed documents, Uzbekistan will supply its southern neighbor with pharmaceutical, petrochemical, textile, leather and footwear, food products and construction materials.

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2021-06-02 16:23:12 How many women are engaged with scientific research in Uzbekistan

271 women have a doctorate in science (DSc)
1,411 women have a doctorate in philosophy (PhD)

2,456 women registered in the Unified Electronic System for the Coordination of Postgraduate Education engaged in research activities

Research work is carried out by:

1185 women are conducting research in basic doctoral studies
80 women are in doctoral studies
964 women are independent researchers (PhD)

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2021-06-01 11:21:59 #Inflation amounted to 0.5% in May in Uzbekistan

Food products rose in price by 0.5%
non-food products - by 0.4%
services - by 0.7%

Fruits and nuts are in the lead by a significant margin, which increased in price by 8.9% over the month. In addition, sugar, confectionery and desserts (1.3%), as well as fish and other seafood (1.1%) surpassed the 1% line of price growth.

In May 2021, sugar (2.5%), live, fresh, chilled fish (1.5%), buckwheat (1.3%), beef with bones (1.1%), lamb (0.9%), boneless beef (0.8%), milk (0.5%) rose the most significantly among the main food products.

A decrease in prices for the month was recorded for cottonseed (-1.5%) and sunflower (-0.2%) oils, oat (-0.3%) and semolina (-0.1%) cereals.

In seven regions, there was a decrease in egg prices (in the range from -0.4% to -2.5%), in six regions - their growth (in the range of 0.6% - 1.6%).

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2021-06-01 10:36:26 Czech sees opportunities for cooperation with Uzbekistan in industry and agriculture Ministry

According to the ministry, Uzbekistan is the second-largest trading partner for Czech by trade volume in Central Asia.

"Czech is interested in more intensive relations with Uzbekistan, higher trade volumes, and investment," the message said.

"In the context of the ongoing transformation reforms in the country, Czech is ready to help further the development of trade cooperation with Uzbekistan through political support and pro-export financing"

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2021-06-01 08:49:06 William Seitz: The declared poverty line is slightly higher than in countries with a similar income level as in Uzbekistan

World Bank economist William Seitz believes that, it is a new approach for Uzbekistan when you get into the details and has many strengths. It is evidence based and uses the real conditions of people and households in the country.

The line was developed and will be monitored using a new national survey especially designed for these purposes.

The purpose of a poverty line is to focus society’s energies and attention on people who are in special need of help.

If a poverty line is set too low, there is a risk of society not doing enough to combat serious deprivation.

But poverty lines are also typically not used to define what is enough for a comfortable or “middle-class” lifestyle.

It is important that the poverty line is not static and consistent with changing circumstances. It should grow with the prices and cost of living in the country.

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2021-05-31 14:19:45 Infographics: Minimum consumer spending in Uzbekistan and other countries

On May 31, 2021, a preliminary estimate of the cost of the minimum consumer spending of the population was announced in Uzbekistan.

#CERR prepared an infographic comparing minimum consumer spending of Uzbekistan with other countries.

The level of MCS in Uzbekistan (440 thousand soums) is 27% of the level of GDP per capita. For comparison, in Kazakhstan this figure is 11%, in Turkey 17%, in Russia 19%.

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2021-05-31 13:53:34 For the first time in Uzbekistan, the minimum consumption expenditure (MCS) has been announced.

Minimum Consumer Spending is 440,000 soums per person per month.

The calculation of this indicator was carried out based on the goals and objectives:

Introduction of an indicative indicator to determine the target group of the population in need of material and other social support from the state;

Use of minimum consumer spending to determine the poverty line and take into account the real consumer properties and needs of the population in the target group;

Increasing the effectiveness and targeting of tasks and measures defined in strategies and programs to reduce poverty.

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2021-05-31 13:03:05 #Infographics: Minimum consumer spending in Uzbekistan.

On May 31, 2021, a preliminary estimate of the minimum consumer spending of the population was announced in Uzbekistan.

The minimum consumer expenditures per household member amounted to 440,000 soums per month (food - 69% and non-food - 31%).

The infographic of the Center for Economic Research and Reforms #CERR presents the methodology and structure of a preliminary estimate of the minimum consumer spending in Uzbekistan.

The main purpose of calculating the MCS is to identify the poor or those in need of social protection and ensure their basic needs.

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