TASHKENT, Uzbekistan, June 26. Uzbekistan’s Ministry of Economy and Finance has developed a fiscal strategy for 2025–2027, Trend reports.
According to the ministry, the document contains forecasts of macroeconomic indicators for the near medium term, main directions of fiscal policy, assessments of fiscal risks, and forecasts of revenues and expenditures of the consolidated budget of Uzbekistan.
In line with the "Uzbekistan - 2030" strategy, which aims to conduct flexible fiscal policy in response to external and internal impacts to ensure long-term sustainable economic growth, the country has identified main goals for the medium and long term, such as:
- Achieving upper-middle-income status through sustainable economic growth;
- Keeping the deficit of the consolidated budget at no more than 3 percent of GDP;
- Ensuring that the ratio of public debt to GDP does not exceed 50 percent;
- Reducing the share of the shadow economy;
- Gradually transitioning to performance-oriented budgeting;
- Harmonizing tax and customs legislation and subsidies and privileges granted to various economic sectors with WTO requirements;
- Maintaining the social focus of state budget expenditures.
Additionally, this fiscal strategy will serve as the basis for the state budget and budget program for 2025–2027.