The Minister of Economy and Finance, Jamshid Kuchkarov, presented measures to Shavkat Mirziyoyev aimed at ensuring the execution of the state budget for 2025. This was reported by the president's press service.
This year, an economic growth of 6% is expected. The consolidated budget has been approved with a deficit of 3% of GDP, with anticipated revenues amounting to 431 trillion soums and expenditures reaching 480.5 trillion soums.
The balance of the state budget and targeted fund budgets has been formed with a deficit of 2% of GDP. The revenue forecast for the state budget is 308.5 trillion soums, while expenditures, including transfers to targeted funds, are projected at 344.8 trillion soums.
This includes 18.5 trillion soums of inter-budget transfers from the republican to local budgets. This will help offset the difference between the revenues of the authorities in Karakalpakstan, regions, and Tashkent (65.8 trillion soums) and their expenditures (84.3 trillion soums).
To enhance the revenues of local budgets and their autonomy, the following contributions will be transferred to them starting this year:
- from turnover tax – 100%;
- from land tax and tax on property of legal entities – 100%, except for payments from large taxpayers;
- from personal income tax – at least 50%, excluding payments from large taxpayers;
- from the privatization of state property – 50%.
Local Kengashes are also granted the right to apply coefficients to taxes on the use of water resources and subsoil use.
The social orientation of budget expenditures was also noted. According to the law, this year, 52% of budgetary funds are planned for the areas of education, healthcare, social protection, the development of science, culture, sports, and providing housing for needy citizens.
Earlier, Spot reported that banks would be allocated $1 billion for loans under the "Mahalla Loyihasi" program.