WNAM MONITORING: President Shavkat Mirziyoyev was informed about measures to ensure the implementation of the Law “On the State Budget of the Republic of Uzbekistan for 2025”.
The law consists of 17 articles and 10 appendices, reflecting the coming year’s leading economic indicators. In particular, it is expected that in 2025, the gross domestic product of Uzbekistan will grow by 6 percent.
The consolidated budget was approved with a deficit of 3 percent of GDP, while its revenues are planned for 431 trillion UZS, and expenses – 480.5 trillion UZS.
The balance of the State Budget and the budgets of state target funds was formed with a deficit of 2 percent of GDP. At the same time, the revenues of the State Budget are determined for 308.5 trillion UZS and expenses – taking into account transfers to state target funds – in the amount of 344.8 trillion UZS.
For 2025, the forecast is taken into account, according to which the budget revenues of the Republic of Karakalpakstan, as well as local budgets of regions and the city of Tashkent, will amount to 65.8 trillion UZS, and expenses – 84.3 trillion UZS. It is also envisaged to transfer 18.5 trillion UZS of inter-budget transfers from the republican budget to local ones.
In accordance with the law, the social focus of budget expenditures will also be maintained next year. It is assumed that 52 percent of the total amount of funds of the State budget will be directed to activities in education, healthcare, and social protection, as well as the development of science, culture, sports, and providing low-income citizens with housing.
To increase the revenues of local budgets and expand their independence, the following types of taxes were additionally assigned to the budgets of districts and cities:
– turnover tax, as well as land tax and tax on the property of legal entities in full (except for taxes paid by large taxpayers);
– at least 50 percent of revenues from personal income tax (except for taxes paid by large taxpayers);
– 50 percent of revenues from the privatization of state property transferred to local budgets.
In addition, local Councils of districts and cities were granted the authority to apply coefficients to certain types of taxes.
In general, the State Budget will also be aimed at the progressive development of the economy, targeted solutions to social issues, and the improvement of the population’s well-being next year.
