Uzbekistan announces draft budget law for 2024: national debt limit set at $5 billion

The Ministry of Economy and Finance of Uzbekistan published the draft state budget for 2024.

According to the document, state budget revenues next year should amount to 270.3 trillion soums, and expenses (excluding inter-budgetary transfers) - 279.6 trillion soums.

The upper limit of the budget deficit is projected at 52.5 trillion soums, or 4% of GDP.

Gross domestic product growth in 2024 is forecasted at 5.6-5.8%. The expected GDP growth rates will be ensured by an increase in production in industry by 6%, in the services sector by 6.1%, and in agriculture by 4%.

It is also planned that the limited volume of new agreements concluded annually to attract external debt will be $5 billion, of which $2.5 billion will be used to support the state budget and $2.5 billion to finance investment projects.