BAKU, Azerbaijan, Nov. 25
By Klavdiya Romakayeva - Trend:
Uzbekistan developed the draft state budget with the aim of maintaining macroeconomic stability, based on the fact that the coronavirus pandemic may continue next year, Trend reports referring to the information of the lower house of Parliament of Uzbekistan.
The Legislative Chamber of the Oliy Majlis (Uzbekistan’s Parliament) adopted the draft law "On the state budget of the Republic of Uzbekistan for 2021" and presented forecasts of the main directions of the country's socio-economic development for 2022-2023.
The main directions and indicators of macroeconomic policy for 2021, reflected in the bill, are reportedly developed on the assumption that the coronavirus pandemic may continue into the next year.
The main attention is paid to maintaining macroeconomic stability, that is, the growth of the gross domestic product (GDP) will amount to 5.1 percent, maintaining positive dynamics in recent years. In particular, the volume of industrial production will increase by 5.8 percent, construction - by 6.5 percent, agriculture - by 2.7 percent, and services - by 6.4 percent.
It is expected that in 2021 the country's GDP is expected to reach 688.9 trillion soums ($66.5 billion), state budget revenues - 147 trillion soums ($14.2 billion), or 21.3 percent of GDP.
In addition, state budget expenditures will amount to 165.7 trillion soums ($16.2 billion), which is 24 percent more than in 2020. Moreover, more than half of the state budget expenditures will be directed to the social sphere.
Also, it is planned to allocate 2.2 trillion soums ($212 million) from the budget for the implementation of state programs in the field of education, including for the first time 30 billion soums ($2.9 million) to provide housing for orphans and children left without parental care.
Another important aspect - taking into account the expansion of the network of non-state preschool educational institutions, it is planned to allocate 600 billion soums ($58 million) of subsidies from the state budget to non-state preschool educational institutions, that is, twice as much as compared to this year.
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