At a regular meeting of the international press club, the head of the Center for Economic Research and Reforms (CERR) Obid Khakimov noted that a well-functioning social protection system is important in reducing poverty.
The head of the CERR said that 7% of the low-income people in Uzbekistan have diplomas.
“Seven percent of the low-income individuals in Uzbekistan are people with higher education. This means that a person with a diploma in Uzbekistan is less likely to fall below the poverty line,” Obid Khakimov stressed.
According to him, investing in education and improving the knowledge and skills of people are key factors in improving the living standards of the population.
Khakimov believes that creating a well-functioning social protection system is important in reducing poverty.
The social protection system developed in Uzbekistan over the past three years helped to reduce the poverty rate by 39%, Khakimov said with reference to a recent study conducted by UNICEF.
“The World Bank announces the level of poverty on a monthly basis based on the income of the population. In 2018, the poverty rate in Uzbekistan was 11.4%, and in 2020 it should have dropped to 7.8%. However, due to the pandemic, another 450 thousand people in Uzbekistan may find themselves below the poverty line,” the CERR director said.
At the same time, he added that according to economic forecasts, in 2021, this indicator is expected to drop by 6.2%.