The volume of subsidies contributed from Uzbek state budget increased five times in 2023 compared to 2021, the Ministry of Economy and Finance said in a report.
If in 2021 5.63 trillion soums were provided for subsidies, in 2022 - 12.26 trillion soums, then in 2023 the figure rose to a record 29.25 trillion soums (about $2.5 billion at the average exchange rate for last year in 11741 soum).
Most of these funds - 17.99 trillion soums (although 12.4 trillion soums were initially envisaged) - are aimed at compensating for differences in the average purchase price (at market price) and sale of natural gas on the domestic market (at regulated prices). In particular, Uzbekistan, in joint projects with foreign companies, purchased gas intended for export for the domestic market at export prices. Because of this, Uztransgaz incurred a debt to Korean companies of $1 billion; in 2019, a debt to Lukoil of $600 million was reported.
In 2024, it is planned to provide 29.8 trillion soums for subsidies, 20.6 trillion soums for the energy sector, and 900 billion soums for geological exploration.
