Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan may need to raise its retirement age to ease the burden on the state budget and address demographic challenges, according to Koba Gvenetadze, head of the IMF office in Uzbekistan.

Currently, men retire at the age of 60 and women at 55, which is below the average international standards.

“There is a need to consider pension reform. The authorities are already working on this issue, and we are providing technical assistance,” Gvenetadze stated.

He emphasized that pension payments make up a significant portion of government spending, and population growth makes reform increasingly urgent.

“It would be advisable to gradually raise the retirement age. However, the first step should be to approve the reform concept. The final decision will depend on the chosen approach,” noted the IMF representative in Uzbekistan.