Legislative chamber sees discussion of State Budget execution

The Legislative chamber of Oliy Majlis of Uzbekistan held an enlarged session of the Committee on budget and economic reforms, dedicated to the review of the execution of the State budget of the Republic of Uzbekistan for 2015 and the first quarter of 2016.

The meeting brought together the deputies, heads of ministries and departments, sector specialists, representatives of the media.

Quarterly parliamentary control over the execution of the main financial document of the country is among the priorities of the Legislative chamber, that's why it is in the center of attention of deputy corps. Based on the requirements of the recently adopted Law "On parliamentary control", there were meetings held, were factions of political parties and deputy group from the Ecological movement of Uzbekistan tentatively considered the report of the Cabinet of Ministers on the issue.

As was noted, despite the ongoing complex processes and negative trends in the world economy, as a result of consistent and systematic implementation of major priorities of the concept of further deepening democratic reforms and formation of civil society, our country, in the period under review demonstrated sustainable growth rates and macroeconomic balance of the economy.

By the end of 2015, the country's GDP grew by 8.0 percent, industrial production - by 8.0 percent, agriculture by 6.8 percent, volume of construction works - by 17.8 percent, retail turnover increased by more than 15 percent, and the volume of paid services by 10.8 percent.

- As a result of the implementation of deep structural reforms and diversification of the economy 2015 demonstrated a positive trend that contributed not only to a balanced and stable economic growth, but also a significant increase in income and employment, - said the member of the Committee Elbek Shukurov. - At the same time, compared with predicted at the beginning of the year the budget deficit in the amount of one percent of GDP, its execution was provided with a surplus of 0.1 percent.

67.1 percent of all investments in the analyzed period were channeled towards industrial construction, which allowed in 2015 to complete construction of and provide input at 158 large production facilities equipped with modern technological equipment with a total value of 7.4 billion USD.

In the framework of the employment program, over 980 new jobs have been created.

The meeting participants stressed that thanks to the comprehensive measures for economic development of the country, the State budget in 2015 was executed in accordance with approved parameters and with a surplus, the inflation rate has not exceeded the established forecast indicators.

- Systematic implementation of the priorities defined by the President for the current year provided significant positive changes in the country's economy in the first quarter of 2016, - said the member of the Committee Eldor Tulyakov. – Thus, the volume of GDP grew by 7.5%, industrial production - by 7.0 percent, agricultural production - by 6.7 percent. Hereby further strengthening of macroeconomic stability was accompanied by low inflation within the forecast parameters and the execution of the State budget with a surplus of 0.1 percent of GDP.

In the first quarter of this year, revenues of the State budget amounted to 8 trillion 643.9 billion soums, expenditure part - 8 trillion 614.7 billion soums. The budget has been executed with a surplus of 29.2 billion soums.

Despite a sharp decline in demand, increasing uncertainty and fierce competition in world markets, Uzbekistan took effective measures to encourage exporters and to provide them with the necessary support in the promotion of products to foreign markets. All these allowed maintaining the growth trends in exports and the positive balance of foreign trade turnover.

At that, the meeting participants expressed comments regarding deficiencies related to improper, illegal use of budgetary funds, and also discussed the measures to prevent them.

In line with the above, the parliamentarians expressed practical proposals for further increasing the responsibility of ministries and departments, khokimiyats in ensuring the effective and targeted use of budgetary funds, observance of financial discipline in budgetary organizations and to strengthen the control over the execution of requirements of the Budgetary code.

The meeting heard reports of representatives of the State Tax and State Customs committees on the execution of the revenue part of the Budget.

Source: Jahonnews.uz