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Uzbek state budget revenues increase

Uzbek state budget revenues increase

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Date: 16 December 2015 17:32

Tashkent, Uzbekistan, Dec.16
By Demir Azizov- Trend:

The revenues of the Uzbek state budget for the first nine months of 2015 increased by 16.6 percent compared with the corresponding period in 2014 - to 26.338 trillion soums, according to a review of the state budget performance posted Dec.16 on the website of the Uzbek ministry of finance.

The official exchange rate for December 16 is 2,780.05 UZS/$1.

“In the total income volume, the State Tax Committee mobilized revenues in the amount of 19,523.9 billion soums, or 100.1 percent of the forecast,” said the review.

At the same time revenues from direct taxes in January-September increased by 18.7 percent compared to the same period last year - up to 6.388 trillion soums, which made up 24.3 percent of total revenues volume.

On indirect taxes, the state budget received funds by 18.1 percent more than a year ago - 13.946 trillion soums, or 52.9 percent of total revenues. Revenues from the value added tax increased by 19.6 percent - up to 7.814 trillion soums, the excise tax - by 18.1 percent - up to 4.115 trillion soums.

Resource payments and property tax provided revenues in the budget amounting to 13.1 percent of all income, or 3.461 trillion soums (a 1.5 percent increase).

Uzbek budget expenditures for the first nine months of 2015 (without government trust funds) amounted to 26.248 trillion soums.

At the same time, some 15.395 trillion soums, or 58.7 percent of total expenditures have been allocated from the state budget to finance social expenditures. Some 8.675 trillion soums (56.3 percent of social expenditures) were allocated to the maintenance and development of educational institutions, 3.689 trillion soums (24 percent of expenses on the social sphere) were allocated to the development of health, 133.6 billion soums (0.9 percent of the expenditures on the social sphere) were allocated to the development of science.

Budgetary spending on the economy amounted to 2.712 trillion soums, which is 14.3 percent more than the same period of 2014, budgetary spending to protect the environment amounted to 535.9 billion soums, while 1,322 trillion soums were spent on the financing of centralized investments.

In general, the state budget revenues in January-September 2015 amounted to 22.4 percent of gross domestic product (GDP), expenses - 22.3 percent of GDP.

The state budget of Uzbekistan for 2015 was approved by the parliament with a deficit of about 1.8 trillion soums, or one percent of GDP, with revenues of 36.2 trillion soums (20.2 percent of GDP) and expenditures of 38 trillion soums (21.2 percent of GDP).

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