President Shavkat Mirziyoyev was briefed on the measures to ensure the implementation of the law "On the State Budget of the Republic of Uzbekistan for 2025." The President's press service reported this.
This law consists of 17 articles and 10 appendices, displaying key economic indicators. Specifically, the country's gross domestic product is expected to grow by 6 percent in 2025.
The consolidated budget revenues are planned at 431 trillion sums, with expenditures at 480.5 trillion sums, approved with a deficit of 3 percent of the gross domestic product.
The balance of the state budget and the budgets of state-targeted funds is formed with a deficit of 2 percent relative to the gross domestic product. State budget revenues are planned at 308.5 trillion sums, with expenditures including transfers to state-targeted funds calculated at 344.8 trillion sums.
For 2025, the revenue forecast for the budgets of the Republic of Karakalpakstan, regions, and the city of Tashkent is taken into account at 65.8 trillion sums, with expenditure forecasts at 84.3 trillion sums. Also, a transfer of 18.5 trillion sums from the republic budget to local budgets is envisaged for regulatory inter-budget transfers.
According to the law, this year, the orientation of budget expenditures towards social priorities was maintained. A total of 52 percent of overall state budget expenditures are allocated for education, healthcare, social protection, science, culture and sports development, and providing housing for the needy population.
With the aim of increasing the revenue and independence of local budgets, the following types of taxes will be additionally retained in the budgets of districts and cities:
- turnover tax, full land and property taxes of legal entities (except taxes paid by major taxpayers);
- at least 50 percent of personal income tax revenues (except taxes paid by major taxpayers);
- 50 percent of the revenues from the privatization of state property to local budgets.
Furthermore, district and city councils are granted the authority to apply coefficients for certain types of taxes.
Overall, the state budget this year will also serve to consistently develop the economy, address social issues targetedly, and enhance the well-being of the population.
