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Home / Business and Innovation / Rustam Azimov, “Uzbekistan Has No Billionaires”

Rustam Azimov, “Uzbekistan Has No Billionaires”

The government of Uzbekistan did not allow the stratification of society and the sharp enrichment of some individuals, as it happened in many countries of the former Soviet Union,” stated the First Deputy Prime Minister Rustam Azimov, speaking at the Investment Forum in Tashkent.

“Uzbekistan did not and does not have billionaires. Instead, a solid middle class gets formed as the economic basis of society, which allows to have a stable budget surplus, rapidly develop industrial and social infrastructure,” Mr. Azimov said.

Thus, according to Mr. Azimov, over the years of independence the measure of income inequality, the Gini index, declined from 0.4 to 0.29. With regard to income differentiation in the ratio of the highest 10% of income with the lowest 10%, the reduction observed with 53 times in 2000 to 7.8 times at the present.

He stressed that these figures are indicative of the growing social welfare of population and stability. “Uzbekistan’s society has no stratification, contradictions and antagonism,” Mr. Azimov emphasized.

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