Uzbek senate approves 2010 state budget

Business Materials 4 December 2009 17:56 (UTC +04:00)

Uzbekistan, Tashkent, Dec. 4 / Trend D.Azizov /

Today, the Uzbek Senate has approved the 2010state budget's deficit at 1 percent (616.1 billion sum) of projected GDP, Trend special correspondent reported.

The state budget's parameters are designed to meet real GDP growth projected for 2010 at  8.3 percent compared to 2009, industrial production - 8.3 percent, agricultural production - 5 percent, retail trade - 16,3 percent, investment - 22 percent and prevent of  inflation at 7-9 percent.

A revenue of the 2010state budget was approved at 21.8 percent of GDP (13.1 trillion sum) and the expenditure - 22.8 percent of GDP (13.7 trillion sum).

The state budget revenues provides reducing the basic rate of income tax of legal entities from the current 10 percent to 9 percent, the single tax paid by micro and small enterprises instead of aggregate tax from 8 percent to 7 percent and the lowest income tax rate from then current 12 to 11 percent.

The State Budget stipulates to direct 59.1 percent of expenses to social sphere. In particular, expenses to education sector will account 7.7 percent of GDP, healthcare - 2.8 percent and payment of social allowance - 2.4 percent. It is expected that Uzbek economy will grow by 8.1 percent in 2009 and industrial output will rise by 9.1 percent and agriculture output will increase by 5 percent.

The parliament approved the 2009 budget with a deficit at 1 percent of GDP (491.6 billion sum), revenues at 21.2 percent (10 trillion sum) and the expenditure - 22.2 percent (10.492 trillion).

On Dec. 4, the official exchange rate is 1508.46 sum to $1.

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