Senators approve state budget for 2023

According to the parliamentary press service, the document defines the consolidated budget parameters for 2023 and budget guidelines for 2024-2025.

According to the law, the parameters of the state budget are calculated based on the fact that in 2023, the growth rate of the gross domestic product in the country’s economy will be 5.3%, and the consumer price index - 9.5% compared to December 2022.

It is expected that budget revenues in 2023 will amount to 310.7 trillion soums, and expenditures - 343.2 trillion soums.

The law for 2023 sets the maximum volume of new agreements to be signed on behalf of the government of the republic and under the guarantee of Uzbekistan to attract external borrowings, set at $4.5 billion. Budget expenditures in 2023 (including transfers to state trust funds) will amount to 257.7 trillion soums, 24.1% in relation to GDP.

In addition, expenditures on education will amount to 58.4 trillion soums, on healthcare - 28.4 trillion soums, on culture - 2.5 trillion soums, on sports - 2.3 trillion soums. On measures for the further development of science in 2023, it is planned to allocate 1.8 trillion soums.

In the new budget, 18.1 trillion soums are allocated to finance priority areas of social protection of the population. Along with this, next year it is planned to pay 1.1 trillion soums of subsidies from the budget to cover the down payment and part of the interest on mortgage loans to more than 52,000 citizens who do not have a high income and need to improve their living conditions.

The expenditures planned to be directed to the economy amount to 36.7 trillion soums, 3.4% in relation to GDP, 14% of total expenditures. It is planned to use these funds mainly to finance the costs of implementing drip irrigation measures, geological exploration work and works on the improvement of settlements and the provision of housing and communal services.

The law was approved by the Senate members.