Economic growth was 5.4 percent compared to the corresponding period last year

At the thirty-second plenary session of the Senate, the report of the Cabinet of Ministers on the implementation of the state budget of the Republic of Uzbekistan and the budgets of State target funds for the first half of 2022 was discussed.

As noted at the meeting, despite the complex processes taking place in the world economy, during the first half of 2022, the sustainable development of the economy of Uzbekistan is ensured. As a result of the effective fiscal and monetary policy implemented in our country, GDP volumes reached almost 390 trillion soums at current prices, and economic growth amounted to 5.4% compared to the corresponding period last year.

During the reporting period, the revenues of the state budget amounted to 92.6 trillion soums, an increase of 17.8 trillion soums compared to the corresponding period last year. It was noted that the increase in the income of the state budget was influenced by the introduction of new levers of tax Control and administration in recent years, the expansion of the tax base, reforms in the fields of the economy.

The expenditures of the state budget for the first half of 2022 amounted to 103.0 trillion soums or 26.4% against GDP without state target funds. During the reporting period, the revenues of local budgets reached 36 trillion 977 billion soums.

In the process of discussions, the members of the Senate focused on the level of levy of income accrued on tax and customs payments during the 6 months of 2022 on the implementation of the state budget income and expenses, targeted spending of allocated funds, as well as the implementation of the forecast of state budget income established by tax and customs authorities.