Salaries and pensions to be increased twice this year in Uzbekistan

Uzbekistan has decided to increase salaries and pensions twice during 2023. The director of the Institute of Forecasting and Macroeconomic Research (IPMR), Umid Obidkhojaev, told Daryo.

It is noted that under the approved State Budget 2023 it was planned to allocate 6.7 trillion soums to increase pensions by 12% from June 1, wages by 10% from October 1.

Earlier it was reported that pensions and allowances will be increased by 7% from 1 April, while wages will be increased by 7% from 1 May (in this case additional budget spending will be 2.2 trillion sums).

Pensions, benefits and wages of public sector employees will be increased by another 10% (additional 5.6 trillion sums) from September 1.

For example, the salaries of employees of budgetary organizations will increase by 17.7% in 2023.

According to the Central Bank forecast, annual inflation in 2023 will peak at 9.5 percent, while civil servants' wages will increase by 8.2 percent during the year. This is the highest rate observed in Uzbekistan in recent years.