The plenary session, which takes place in the videoconference format, is chaired by the Chairman of the Senate of the Oliy Majlis, Tanzila Narbayeva.

You can follow the discussion of issues at the plenary session directly online through the Senate's YouTube channel.

Senators at the plenary session of the Senate considered the Law "On the State Budget of the Republic of Uzbekistan for 2024".

During the discussion, it was noted that the GDP growth rate in the country's economy in 2024 is expected to reach 5.6-5.8%.

The law has formed a consolidated budget with a deficit of 52.6 trillion soums, or 4% of GDP, having planned consolidated budget revenues in 2024 in the amount of 375.0 trillion soums, and expenditures in the amount of 427.6 trillion soums.

It was noted that the revenues of the State Budget amounted to 270.4 trillion soums, and expenses, taking into account transfers to state trust funds, amounted to 312.9 trillion soums.

At the same time, the main directions of tax policy are determined, according to which the main tax rates remain unchanged.

Revenues and expenditures of state trust funds (excluding inter-budgetary transfers) are planned in the amount of 55.2 trillion soums and 85.8 trillion soums.

The social orientation of budget expenditures will continue next year and about 50% of the total expenditures of the State budget or 151.5 trillion soums will be directed to education, healthcare, social protection, the development of science, culture and sports, housing for those in need and other social activities.

The Law mainly takes into account the priorities and tasks provided for by the Strategy "Uzbekistan - 2030" and the national Sustainable Development Goals.

During the discussion, the senators paid special attention to increasing budget revenues. They spoke about reducing the shadow economy, efficient and targeted use of budget funds, and ensuring the effectiveness of allocated funds.

It was noted that the rate on alcohol and tobacco imports was reduced by 5% in order to equalize the excise tax rates established at the local level and on imports. The tax rate for the use of mineral resources is reduced by 2 times per 1 ton of limestone intended for cement production.

The senators also emphasized that the Law is aimed at expanding the revenue base of the budget, while determining tax policy – at improving a healthy lifestyle and stimulating nature conservation.

The law was approved by the senators.