Oliy Majlis approves budget for 2010 in Uzbekistan
Uzbekistan, Tashkent, November 3 / Trend D. Azizov /
Oliy Majlis (lower chamber of the Uzbek Parliament) approved the state budget for 2010 on Friday, press-service of the parliament said.
The state budget was approved with deficit to the amount of 1 percent of planned volume of GDP, income worth 21.8 percent of GDP and expenses - 22.8 percent of GDP.
Press-service of Oliy Majlis did not call volume of the deficit in money terms. According to the information, deficit will hit about 600 billion sum.
Parameters of state budget were designed given real growth of GDP by 8.3 percent in 2010 compared to 2009, production of industrial production - by 8.3 percent, agricultural production -5 percent, retail turnover -16.3 percent, investments - 22 percent, export volume - 6 percent, inflation control - 7-9 percent.
Income of the budget envisages reduction of base rate of tax for legal entities' profit from 10 percent to 9 percent and minimal rate of income tax up from 12 percent to 11 percent.
Major volume of budget expenses hit 59.1 percent compared to 55.6 percent in 2009. These funds will be spent for development of social sphere, including public health, enlightenment, culture, sports and social protection of population. Expenses for education will hit 7.7 percent of GDP, 2.8 percent - for public health and 2.4 percent - for social grants.
The state budget for 2010 will be finally approved at a meeting of the Senate (upper chamber of the Uzbek Parliament) in late November.
The budget for 2009 was approved by the Parliament with 1 percent deficit of GDP ((491.6 billion sum), income to the amount of 21.2 percent of GDP (10 trillion 421.4 billion sum), supply - 22.2 percent of GDP (10.913 trillion sum).
On November 3, the official exchange rate is 1504.55 sum per $1.