Uzbekistan, Tashkent, 5 Dec / Trend corr. T.Zhukov/ The Uzbek Senate adopted 2009 pubic budget with deficit of 491.6bln sums (about $361.2mln), Trend correspondent reported from Tashkent.
In 2009 deficit of the Uzbek public budget will make up 1% of the forecast Gross Domestic Product (GDP), the Senate told Trend . Incomes of the public budget will amount to 10.421trln Uzbek sums (more than $7.628bln) in 2009, which makes up 21.2% of GDP. In accordance with the adopted budget, expenditures will comprise 10.913trln sums ($7.989bln) or 22.2% of GDP.
"Deficit of public budget will be covered at expense of free remains of means of the republican budget early 2009," Rustam Azimov, the first Deputy Premier and Finance Minister, said at a meeting of the Senate.
Figures of the public budget have been developed subject to the forecast growth rate of GDP by 8% in 2008, industrial production - by 9.3%, agricultural production - by 5%, capital investments - by 18% and inflation ratio level - by 6%-8%, he said.
In 2009 it is planned to direct 56.5% of expenditures to development of social field, including health, enlightenment, culture, sport and social protection.
"2009 public budget targets to improve people's life condition through rise of incomes and cut of taxes, Gulsanam Shokarimova, a member of the Senate Committee on budget and economic reforms, told Trend . Taxes on individuals' income will be cut in 2009."
According to the current scale, income worth 6 minimal salaries were imposed tax of 13%, from 6 to 10 minimal - 18% and over 10 minimal - 25%. On 1 Jan 2009, these rates of income tax will make up 12%, 17% and 22%, respectively.
It is planned to fix zero rate of this tax on international cargo transportations and on exported cotton fibre while maintenance of acting rates of VAT, the Senate said.
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