At the 48th session of the Senate, the senators considered the 2024 State Budget of the Republic of Uzbekistan Bill. During the discussions, they underscored that in 2024, the GDP was forecasted to grow by 5.6-5.8 percent.
In 2024, consolidated budget revenues are expected to reach 375 trillion soums, US$ 30.3 billion, and expenditures - 427.6 trillion soums, US$ 34.6 billion with 4.1 billion USD or 4 percent to GDP deficit. Also, basic tax rates were left unchanged.
In the following year, the social orientation of budget expenditures will be maintained, and almost 50 percent of the total State budget expenditures or 151.5 trillion soums will be contributed to education, health care, social protection, development of science, culture and sports, providing housing to the needy population, and other social activities.
They noted that in order to equalize local and imports excise tax rates, the import duty on alcohol and tobacco products will be cut down to 5%, and the tax rate for the subsoil use will be cut by twice
The bill was passed by senators.
