President Shavkat Mirziyoyev was briefed on measures to ensure the implementation of the law “On the State Budget of the Republic of Uzbekistan for 2025.”
This law, consisting of 17 articles and 10 annexes, outlines key economic indicators. Notably, Uzbekistan’s gross domestic product (GDP) is expected to grow by 6% in 2025.
Consolidated budget revenues are projected at 431 trillion soums, while expenditures are planned at 480.5 trillion soums, with a deficit of 3% of GDP. The balance of the state budget and state-targeted funds is also expected to reflect a deficit of 2% of GDP. Specifically, state budget revenues are projected at 308.5 trillion soums, and expenditures, including transfers to state-targeted funds, are estimated at 344.8 trillion soums.
For 2025, the budget revenue forecasts for the Republic of Karakalpakstan, regional, and Tashkent city budgets are set at 65.8 trillion soums, with expenditure forecasts at 84.3 trillion soums. Additionally, 18.5 trillion soums in inter-budgetary regulatory transfers from the national budget to local budgets have been allocated.
According to the law, the social focus of budget expenditures will remain intact this year. A total of 52% of the state budget will be directed towards education, healthcare, social protection, science, culture, sports, and providing housing for those in need.
To increase local budget revenues and strengthen their autonomy, the following tax types will be additionally retained in district and city budgets:
- Turnover tax, land, and property taxes paid by legal entities (excluding large taxpayers);
- At least 50% of personal income tax revenue (excluding payments by large taxpayers);
- 50% of revenue from privatizing state-owned property.
Furthermore, district and city councils will be granted the authority to apply coefficients for certain types of taxes.
Overall, this year’s state budget will contribute to sustainable economic growth, targeted solutions to social issues, and improving the population’s welfare.
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