Thursday, 24, June, 2021

The public debt as of April 1 topped US$ 23.4 billion, or 40.5 percent to GDP. At a regular meeting of the Legislative Chamber, the achievement of the state budget parameters for Q1 of 2020 and 2021 was discussed, the chamber reported.

Reportedly, in January-March 2021, the Uzbek economy grew by 3 percent to the same period of 2020, and stands at 128.6 trillion soums, or US$ 12 billion.

In particular, the economic growth was ensured in the industry - by 3.8%, construction - by 0.5%, forestry and fish farming - by 3.1% and the services sector - by 2.8 percent.

The inflation rate on an annualized basis was 10.9%, and in relation to January-March last year - 2.7 percent.

In the reporting period, state budget revenues amounted to 33.9 trillion soums, expenditures - 34.1 trillion soums, budget deficit - 188.2 billion soums, or 0.1 percent of GDP.

In order to revive the economy and stimulate consumption, social spending in the first quarter of 2021 increased by 21 percent to the same period last year and amounted to 18.2 trillion soums.

Also, the public debt as of April 1, 2021 amounted to US$ 23.4 billion or 40.5 percent in relation to the gross domestic product (GDP). In particular, the domestic public debt reached US$ 2.2 billion (3.7 percent in relation to GDP), and the external public debt - US$ 21.2 billion (36.8 percent in relation to GDP).

According to the release, the MPs underscored that along with the positive results achieved over the past period, the number of mistakes and shortcomings made in the targeted spending of budget funds has increased, and this circumstance causes discontent among the public.

Latest in Economy