Senate committees have previously reviewed the Law "On the State Budget of the Republic of Uzbekistan for 2025"

    Finance 12 December 2024 151

    At a joint meeting of the Senate committees on budget and economic issues, on agrarian and water management issues and ecology, as well as on international relations, foreign economic relations, foreign investment and tourism, the Law "On the State Budget of the Republic of Uzbekistan for 2025" was preliminarily discussed.

    Currently, the economy of Uzbekistan maintains stable growth rates in the face of a difficult and uncertain situation in the world, slowing global economic growth. Economic growth is projected to reach 6.0 percent in 2025. In 2026-2027, economic growth is expected to increase to 6.1 and 6.3 percent, respectively.

    Next year, due to the growth of economic activity, State budget revenues are projected at 308.5 trillion soums due to an increase in tax and non-tax revenues.

    State budget expenditures for 2025 are planned in the amount of 344.8 trillion soums, with 52 percent or 177.7 trillion soums planned to be allocated to finance social spending.

    It is also planned to allocate 3.3 trillion soums from the State budget for agriculture, 10.7 trillion soums for water management and 3.6 trillion soums for ecology and environmental protection.

    In order to ensure fiscal stability, reducing the budget deficit remains one of the main objectives of fiscal policy in the medium term.

    At the meeting on this Law, information was heard from representatives of the Ministry of Economy and Finance, and senators, experts and permanent commissions of local councils took an active part in the discussion and expressed their opinions and suggestions.

    Following the discussion, the relevant decisions of the Senate committees were adopted.