BAKU, Azerbaijan, Oct. 30
By Klavdiya Romakayeva - Trend:
Uzbekistan plans to bring state budget revenues to 147 trillion soums ($14.2 billion) in 2021, Trend reports referring to the Ministry of Finance of Uzbekistan.
The Ministry of Finance of Uzbekistan has developed a draft law on the state budget for 2021, as well as a forecast of revenues and expenditures of the consolidated state budget, and submitted it for public discussion.
The main directions and indicators of macroeconomic policy for 2021 in the document are formed based on the assumptions that the coronavirus pandemic will continue next year.
At the same time, the main focus will be on maintaining macroeconomic stability, normalizing fiscal stimulus measures, and ensuring economic growth by more than 5 percent.
It is planned to bring the revenues of the state budget in 2021 to 147 trillion soums ($14.2 billion), expenditures - up to 149.7 trillion soums ($14.4 billion), excluding transfers to state trust funds, revenues of state trust funds - up to 26.2 trillion soums ($2.53 billion), and expenditures - up to 40.7 trillion sums ($3.93 billion).
The allocation of transfers to state trust funds in the amount of 15.9 trillion soums ($1.53 billion) from the republican budget has been established. In particular, it is planned to allocate a transfer in the amount of 14.7 trillion soums ($1.42 billion) from the state budget, while the revenues of the off-budget pension fund will amount to 23.5 trillion soums ($2.27 billion), and expenses will amount to 36.5 trillion soums ($3.52 billion).
“As a result, next year it is planned to have a deficit in the state budget and budgets of State Trust Funds in the amount of 17.2 trillion soums ($1.66 billion), or 2.5 percent in relation to the projected gross domestic product,” the ministry said.
In addition, it is expected that the revenues of the Fund for Reconstruction and Development of Uzbekistan will amount to 5.3 trillion soums ($512 million), and expenses will amount 13.4 trillion soums ($1.29 billion).
It is planned that the upper limit of the deficit of the consolidated budget of Uzbekistan for 2021 (together with the costs associated with the implementation of state programs at the expense of the State budget, State Trust Funds, the Fund for Reconstruction and Development, external debt) will be set at 37.4 trillion soums ($3.61 billion) or 5.4 percent in relation to gross domestic product, that is, 1.6 percent lower in relation to the consolidated budget deficit expected at the end of the current year.
The draft law on the budget of Uzbekistan will be on public discussion until November 12. The document can be supplemented, changed or rejected.
---
Follow the author on Twitter: @romakayeva