THE IMPORTANCE OF INVESTMENTS IN HUMAN CAPITAL IN ENSURING THE WELFARE OF THE POPULATION IN UZBEKISTAN

Abstract

This article examines the role and significance of investments in human capital in ensuring the welfare of the population of Uzbekistan, using a scientific-analytical approach grounded exclusively in open-source, verified data from UNDP, the World Bank, UNESCO, WHO, and national statistical agencies. Empirical evidence from 2000–2023 demonstrates that Uzbekistan's Human Development Index (HDI) rose from 0.596 to 0.740 — a 24.2% increase — placing the country in the 'High Human Development' group for the first time (UNDP, 2024). Life expectancy increased from 73.0 years (2010) to 75.1 years (2024), and the national poverty rate declined from 17% in 2021 to 11% in 2023, lifting an estimated 1.6 million people out of poverty (World Bank, 2024). However, critical systemic gaps persist: education spending remains at 5.5% of GDP — below the internationally recommended 6% threshold — out-of-pocket health payments exceed 50% of total health expenditure, and the Gini coefficient rose to 0.345, signalling growing inequality. These findings underscore that while progress is real, the distributional quality of human capital investment requires urgent policy attention within the framework of the 2022–2026 New Uzbekistan Development Strategy.