BAKU, Azerbaijan, June 3
By Ilkin Seyfaddini - Trend:
MPs of the Legislative Chamber of the Parliament of Uzbekistan (Oliy Majlis) assessed the report on execution of the state budget in the first quarter of 2020, Trend reports with reference to the press service of the Chamber.
According to the results of the reporting period, the growth of GDP was 4.1 percent (industry - 1.2 percent, services - 1.5 percent, spheres of agriculture, forestry and fishery - 0.5 percent, construction - 0.4 percent).
In the first quarter of 2020, state budget revenues made up 28.5 trillion soum ($2.8 billion), and expenditures - 27.7 trillion soum ($2.7 billion). The budget was executed with surplus of 0.8 percent of GDP.
According to the press service of the lower chamber, 344 billion soum ($33.7 million) has been allocated at the expense of the Anti-Crisis Fund to mitigate the consequences of the coronavirus pandemic and global crisis phenomena in the economic sectors.
Also, in the reporting period, 2.7 trillion soum ($265.2 million) was allocated for economic expenses and 1.9 trillion soum ($186.6 million) for investment financing.
"Revenues for the first quarter were paid mainly at the expense of working capital following the results of the fourth quarter of 2019 and first two month of 2020," the report says.
Due to the coronavirus pandemic, international integration has slowed down. This has caused the foreign trade turnover of Uzbekistan make up $8.1 billion in the first quarter of 2020, and decrease by 10.2 percent ($924 million) compared to the same period in 2019.
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