“Per capita income will reach $3,500 by year-end” – Shavkat Mirziyoyev

On 15 September, President Mirziyoyev visited Bustanlyk district in Tashkent region and met with teachers and educators.

During the meeting, the president emphasized that the country’s economy has doubled in size in recent years.

“By the end of the year, per capita income will reach $3,500. GDP will also rise to $130 billion. Thanks to the introduction of modern technologies and innovations across all sectors, exports will reach $25 billion this year. Over the past eight years, $130 billion of foreign investment has flowed into our country,” the president said.

He added that while in the past investments were directed mainly into raw material resources, today they are being channeled into manufacturing new products and improving infrastructure across industries.

“Why do I place so much emphasis on these economic indicators? Because the stronger the economy, the more education develops. And in countries where education quality is high, the economy grows steadily. This is the law of life,” the president noted.

It was reported that over the last eight years spending on education and science has increased sixfold, amounting to 378 trillion UZS. For the first time in Uzbekistan’s history, the country’s gold and foreign currency reserves surpassed $50 billion.

Earlier, it was reported that in the second quarter of this year, real wage growth in Uzbekistan stood at 7.3%. Central Bank analysis showed that real wage growth in Uzbekistan lags behind other countries in the region. The regulator warned that if the gap with peer economies persists, it may lead to a decline in purchasing power and weakened domestic demand in the future.

For reference, in 2024 the total income of Uzbekistan’s population amounted to 896.3 trillion UZS. Nominal growth was 18.5%, while real growth (adjusted for inflation) was 8.1%. Per capita income grew by 16.1% (5.9% adjusted for inflation) – from 20 million UZS to 24.1 million UZS annually (about 2 million UZS per month). Based on the average annual exchange rate of 12,500 UZS per dollar, this amounts to $1,600–1,900.