Consolidated budget revenues in 2023 expected at 310.7 trillion UZS

At the 36th plenary session of the Senate the Law "On State Budget of the Republic of Uzbekistan for 2023" was considered. The law determines consolidated parameters of the Consolidated Budget of the Republic of Uzbekistan for 2023 and budget targets for 2024-2025.

According to the Law, the parameters of the State Budget are calculated on the assumption that in 2023, the growth rate of gross domestic product in our economy will be 5.3 per cent, and the consumer price index will be 9.5 per cent compared to December 2022.

Consolidated budget revenues in 2023 are expected to reach 310.7 trillion soums, while expenditures will reach 343.2 trillion UZS.

The law for 2023 sets the limit of new contracts to be signed on behalf of the Republic of Uzbekistan (Uzbek government) and under the guarantee of the Republic of Uzbekistan to attract foreign loans at 4.5 billion USD.

The senators paid serious attention to the volume of state budget allocations for the social sector. It was noted that the expenditures for education makes up 58.4 trillion soums, for health - 28.4 trillion UZS, for culture - 2.5 trillion UZS, for sports - 2.3 trillion UZS, for measures on further development of science in 2023 1.8 trillion UZS will be allocated.

Along with this, next year the state budget plans to pay 1.1 trillion soums of subsidies to cover the initial payment and part of interest on mortgage loans for over 52,000 people who do not have high income and need to improve housing conditions.