Uzbekistan's budget surplus hits 0.2% of GDP
The state budget surplus of Uzbekistan in January-June 2015 amounted to 0.2 percent of GDP (119.9 billion soums), the lower house of the Uzbek parliament reported.
The budget execution was discussed at an enlarged meeting of the parliamentary committee on budget and economic reforms.
The revenue part of the budget of Uzbekistan for the first half of 2015 increased by 15.9 percent compared to the same period last year and amounted to 17.055 billion soums, or 23.6 percent of GDP.
Receipts from taxes in total volume of the Uzbek budget revenue part amounted to 12.57 billion Uzbek soums, which is 0.1 percent more than the forecasted indexes. At the same time, revenues from direct taxes in the first half of 2015 increased by 16.7 percent - up to 4.169 billion soums.
The message said that the expenses of the state budget (without government trust funds) amounted to 16.935 billion soums, or 23.4 percent of GDP.
Some 10.018 billion soums (13.9 percent of GDP and 59.2 percent of total volume of expenditure part) have been allocated to finance social expenditures from the state budget of Uzbekistan. At the same time, the volume of funds allocated to health care increased by 13.3 percent compared to the same period last year and amounted to 2.299,3 billion soums, or 23 percent of social expenditures. Some 5.79 billion soums (57.8 percent of social expenditures) have been allocated for the maintenance and development of educational institutions.
The state budget of Uzbekistan for 2015 was approved by the parliament with a deficit of about 1.8 trillion soums, or 1 percent of the projected GDP, with revenues at the level of 36.2 trillion soums (20.2 percent of GDP) and expenditures worth 38 trillion soums ( 21.2 percent of GDP).
On the results of 2014, the state budget of Uzbekistan was executed with a surplus of 0.2 percent of GDP (305.2 billion soums), according to the ministry of finance of Uzbekistan. Budget revenues amounted to 21.9 percent of GDP (31 trillion 730.5 billion soums), expenditures – to 21.7 percent of GDP (31 trillion 425.4 billion soums).
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