BAKU, Azerbaijan, Jan. 8
By Fakhri Vakilov - Trend:
Income of Uzbekistan’s state budget increased by 42 percent in 2019 compared with the results of 2018, to $11.7 billion, while expenses - by 49 percent to $12.3 billion, Trend reports citing the Uzbek media.
Moreover, the state budget deficit for the past year amounted to $595.8 million, or 1.1 percent of GDP, against a deficit of $66.5 million or 0.15 percent of GDP for the preceding year.
The share of direct taxes in the total structure of budget revenues in 2019 amounted to 28.2 percent (19.5 percent in 2018), indirect taxes - 41.4 percent (51.8 percent), resource payments and property tax - 17.5 percent (16 percent), excess profit tax - 0.2 percent (1.9 percent), other income - 12.7 percent (10.8 percent).
In 2019, the consolidated budget revenues of Uzbekistan increased by 27 percent to $14.3 billion or 26.1 percent of GDP, expenditures - by 37 percent to $15.1 billion or 27.6 percent of GDP, its deficit amounted to $804.8 million or 1.5 percent of GDP.
Given the cost of repaying the principal debt in the amount of $219.5 million, the deficit is covered by the balance of funds at the beginning of 2019 of the state budget and the Pension Fund in the amount of $324 million, the issue of government bonds - $114.9 million, as well as international financial resources institutions - $585.3 million.
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