"MECHANISMS FOR THE FORMATION OF MINIMUM CONSUMPTION EXPENDITURE STANDARDS IN FOREIGN COUNTRIES AND THEIR APPLICATION PRACTICES"

Abstract

This article explores how minimum consumption expenses are calculated and their essential role in combating poverty. It offers an in-depth look at the global evolution of consumption basket standards and their socio-economic effects. By examining best practices from developed countries alongside Uzbekistan's situation, the research underscores the importance of establishing suitable consumption thresholds to create effective poverty reduction strategies. The findings indicate that precise measurement and regular updates of minimum consumption standards can greatly alleviate poverty and enhance overall living conditions.