Uzbek Senate approves state budget for 2013 with 1% of GDP deficit

Uzbekistan, Tashkent, Dec 6 /Trend D.Azizov/

The Uzbek Senate (the upper house of the Uzbek parliament) approved the state budget for 2013 with a deficit of 1.2 trillion soum, or one percent of the projected gross domestic product (GDP) on Thursday.

Budget revenues amounted to 25.1 trillion soum (21.3 percent of GDP), expenditure - 26.3 trillion soum (22.3 percent of GDP).

As previously reported, the Legislative Chamber of Uzbekistan (the lower house of the Uzbek parliament) approved the state budget for 2013 on November 17.

The parameters of the state budget are designed to meet planned GDP growth of eight percent for 2013; this figure includes industrial production growth of 8.4 percent, agricultural production - 6 percent, and increases in capital investment by 9.3 percent, First Vice-Prime Minister and Minister of Finance Rustam Azimov said at the meeting.

Azimov said that the budget aims to ensure macroeconomic stability and high growth rates in the economy, as well as the formation of a diversified and competitive economy, and good welfare and quality of life.

Base direct tax rates, including corporate income tax and VAT at the level of 2012 (nine and 20 percent, respectively) remain at the revenue side of the budget for next year.

At the same time, the rate of a number of indirect taxes will be increased by an average of 1.2 times.

It provides a reduction of the minimal tax rate on personal income from nine to eight percent, which would leave about 186 billion soum at the disposal of individuals.

"In general, the concept of the government's tax policy is to reduce the tax burden on economic entities by 0.3 percent of GDP in the coming year," Azimov said.

Expenditure on social services - health, education, culture, sports, social protection of the population - make up 59.4 per cent compared to 58.6 percent a year earlier in the expenditure side of the budget.

The main financial document of the country was approved by the Senate and will be directed to the President of Uzbekistan for sign in accordance with established procedures.

As previously reported, the state budget of Uzbekistan for 2012 was approved with a deficit of one percent of projected GDP, or 966.5 billion soum, with revenue in the amount of 21.1 percent of GDP (20 trillion 393.9 billion soum), and expenditures in amount of 22.1 percent of GDP (21 trillion 360.4 billion soum).

The official exchange rate on Nov 6th is 1972,99 soum/$1

The official exchange rate for December 6th - 1972.99 soum / $ 1.

Subscribe to Trend in Google News! Subscribe
Pakistani companies may partake in restoration of Azerbaijan's liberated territories (PHOTO)
Pakistani companies may partake in restoration of Azerbaijan's liberated territories (PHOTO)
Iran looks to boost its energy trade through Economic Cooperation Organization
Iran looks to boost its energy trade through Economic Cooperation Organization
Iran's ties with Economic Cooperation Organization to boost country's cargo transit
Iran's ties with Economic Cooperation Organization to boost country's cargo transit
Loading Bars
Latest
WHO warns against blanket travel bans over Omicron coronavirus variant
9 injured in refinery fire in north Algeria
UK to offer booster vaccines to all adults by end of January
At least three students dead in Michigan school shooting, suspect in custody
Canada to ban travelers from Nigeria, Malawi, Egypt over Omicron concerns
Uzbekistan reveals leading regions in amount of loans issued in 9M2021
Head of EU delegation expresses condolences to Azerbaijan over military helicopter crash
Italian Embassy expresses condolences to Azerbaijan over military helicopter crash
Georgian economy grows 6.9% in October 2021
Turkish President to pay visit to Qatar in December
Capacity of crashed military helicopter of Azerbaijan's State Security Service was 24 people
Manual counting of 29% of protocols show that 7 parties may enter Kyrgyz Parliament
AZAL plane makes emergency landing in Baku
Pakistan seeking to increase trade routes on border with Iran
UN Resident Coordinator expresses condolences over military helicopter crash in Azerbaijan
Any outside influence as cause of helicopter crash out of question - head of Azerbaijani State Border Service
Coordination Headquarters holds another meeting in Azerbaijan (PHOTO)
Azerbaijan's First Deputy Prosecutor General talks investigation, following helicopter crash
Former Turkish PM expresses condolences over helicopter crash in Azerbaijan
French ambassador expresses condolences over crash of military helicopter in Azerbaijan
UK's Ambassador expresses condolences over crash of military helicopter in Azerbaijan
Organization of Turkic States expresses condolences to Azerbaijan due to helicopter crash
Israeli ambassador expresses condolences to Azerbaijan over helicopter crash
Iranian Foreign Ministry expresses condolences to Azerbaijan over helicopter crash
Helicopter crashed while landing at Garaheybat training center – Azerbaijani State Border Service
Status of martyr to be assigned to those killed in plane crash in Azerbaijan (VIDEO)
Turkish President Erdogan holds phone talks with President Ilham Aliyev
President Ilham Aliyev, First Lady Mehriban Aliyeva give instructions on burial of those killed in helicopter crash
Witnesses of helicopter crash being questioned in Azerbaijan – First Deputy Prosecutor General
Turkish Minister of National Defense expresses condolences to Azerbaijani Defense Minister
Flight recorder of crashed military helicopter found in Azerbaijan
Pakistani companies may partake in restoration of Azerbaijan's liberated territories (PHOTO)
Iran looks to boost its energy trade through Economic Cooperation Organization
Iran's ties with Economic Cooperation Organization to boost country's cargo transit
Azerbaijan excludes any outside interference following deadly helicopter crash
IRENEX shares data on sales of Iranol Oil Company
Gas swap agreement is mutually beneficial for Azerbaijan, Iran and Turkmenistan - experts
ICIEC Signs MOU with Japan's Nippon Export and Investment Insurance (NEXI)
Israel's Bezeq Q3 profit up, raises full year outlook
Iran seeks to boost trade ties with Turkmenistan
Pakistan expects $3 billion reserves deposit from Saudi in days
Iran eyes to commission 12 new metro stations in Tehran
Oxford University says no evidence yet that vaccines won't protect against severe disease from Omicron
SOCAR’s STAR Refinery reduces crude oil imports
Iran remains optimistic about Vienna nuclear talks
FMs of Azerbaijan, Turkey hold phone talk
Turkmenistan's crude oil supplies to Turkey down
Azerbaijan's oil export volume down in 10M2021
Footage from crash scene of military helicopter of Azerbaijan’s State Fire Service (PHOTO/VIDEO)
U.S. Int'l Development Finance Corporation provides financing to Bank of Georgia for SMEs support
Kazakhstan boosts crude oil exports to Turkey
Iran's president to speak before parliament
Kazakhstan increases trade with Turkey over 9M2021
Use of Sputnik Light as booster jab for all vaccines approved in UAE
Cargo transportation via internal waters up in Kazakhstan
Central Bank of Azerbaijan reveals amount of sold foreign currency
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,678 more COVID-19 cases, 1,934 recoveries
Azerbaijan opens criminal case on crash of military helicopter of State Border Service
Iran extends condolences to Azerbaijan over military helicopter crash
Turkey talks ongoing support in demining Azerbaijan's liberated lands
Azerbaijan reveals names of dead and wounded in military helicopter crash
Iran beats sets new domestic record regarding transit of goods
President Ilham Aliyev and First Lady Mehriban Aliyeva express condolences to families of those killed in crash of military helicopter of State Border Service
Georgian, Ukrainian, and Moldovan PMs hold meeting in Brussels
Alliance Logistics talks potential of Zangazur corridor in increasing goods transit via Azerbaijan
Uzbek Statistics Committee reveals amount of construction work done for 10M2021
Volume of gas transportation to Turkey via TANAP disclosed
Several Azerbaijani organizations address citizens on omicron coronavirus variant
It is important to cooperate with such partners as Azerbaijan - Head of EU Delegation
Iran reveals COVID-19 data for November 30
Kazakhstan’s oil-producing company to buy batteries via tender
Azerbaijan unveils numbers of mine incidents due to illegal entry into liberated lands
Turkish MoD expresses condolences to Azerbaijan on military helicopter crash victims
Russia, Italy discuss situation in South Caucasus
Georgian Government to co-op with private sector – Business Association
UK health chief says no indication of Omicron wave so far
SOCAR Turkey forecasts growth in its total revenues for 2021
Webinar conference held for youth from Central Asia (PHOTO)
Export prices of Georgian apples increase
Azerbaijani State Customs Committee comments on alleged reduction of $300 limit for orders from abroad
Kazakhstan sees increase in pension savings
Volume of loans issued by private banks of Uzbekistan increases over year
Iran shares import data
Money transfers via Kazakhstan National Bank's payment systems down
Iran increases sale of state assets
Nepal unveils first shock table facility built with Indian aid
Non-OPEC crude oil supply to continue upward trend by 2023
Iran eyes manufacturing goods in Syria, exporting final products to third countries
Azerbaijan to launch social package in 2022 – minister
UAE's ADNOC to supply full crude volumes to Asia buyers in Feb
Azerbaijani president signs order to erect monument to famous poet in Baku
President Ilham Aliyev receives Pakistani Defense Production Minister (VIDEO)
Azerbaijan repairs Shaki ferry ship at Zigh Ship Repair and Construction Yard
Azerbaijan reveals electricity generated by power plants in October 2021
Kazakhstan's banks increase lending over 10M2021
Azerbaijan to develop single mobile app for various types of insurance – Central Bank
AZAL discloses reason for Baku-Nakhchivan flight delay
Georgia’s potato exports to Central Asia up
Russia records 32,648 new daily coronavirus cases, lowest number since Oct 15
All news