Tashkent, Uzbekistan, Dec. 18
By Diana Aliyeva – Trend:
The gross domestic product (GDP) of Uzbekistan is expected to total 290.6 trillion soums in 2018.
This was noted at the next meeting of the Uzbek parliament’s Legislative Chamber, which viewed the draft state budget and budgets of state trust funds.
A report on the issue was presented by Uzbek Deputy Prime Minister and Finance Minister Jamshid Kuchkorov, according to the parliament’s lower house.
Members of the Uzbek parliament highly appreciated the innovative methods introduced in the budget planning process for the forthcoming period. For the first time the draft state budget has been compiled on the basis of macroeconomic indicators, price indices recognized by the global financial institutions.
According to the draft budget, the GDP deflator stands at 14.1 percent and the consumer price index – 12-13 percent.
Meanwhile, it is proposed to reduce the number of taxes and other mandatory payments by combining taxes and payments having the same taxable base.
The state budget expenditures on the social sphere will amount to 34.7 trillion soums in 2018.
The healthcare sector, budget expenditures for which will increase by one third (30.9 percent) and amount to 9.6 trillion soums, is the priority.
Moreover, it is planned to allocate funds totaling 753.6 billion soums for the construction, reconstruction work and overhaul of medical facilities.
In conclusion, the draft state budget and budgets of state trust funds, as well as the main directions of the tax and budget policy for 2018, were approved by the Legislative Chamber.