The Plenary Session of the Legislative Chamber of the Oliy Majlis took place on June 1, 2020. The deputies reviewed the execution of the State Budget of the Republic of Uzbekistan and the State Targeted Funds for 2019 and the first quarter of 2020.

In 2019, the state budget revenues reached the amount equaling 112.2 trillion sums. The forecast was fulfilled by more than 9.2 billion sums or 109%.

As a result of tax reforms, 12.8 billion sums were left at the disposal of business entities.

It was noted that as a result of reducing the tax burden on the salary fund, personal income tax increased by almost 2 times compared to year 2018 and amounted to 12.7 billion sums, fulfilling the forecast by 108.8%, while incomes increased by 6.5 billion sums.

Expenditures of the state budget in 2019 amounted to 118 billion sums, an increase of 48% compared to 2018.

The share of social expenditures in the structure of state budget expenditures is still high as in previous years, amounting to 63.5 billion sums or 54% of the total expenditures from the state budget.

In the first quarter of 2020, the state budget fully financed the budget expenditures with revenues of 28.5 billion sums and expenditures of 27.7 billion sums. It was noted that the first quarter’s revenues were paid mainly based on the results of the 4th quarter of 2019 and the turnover in January-February.

In the first quarter of 2020, the budget revenues amounted to 28.5 billion sums and budget expenditures – 27.7 billion sums. The fact that quarantine restrictions from the 2nd half of March due to the Coronavirus pandemic were fully financed from the state budget did not have a significant impact on the state budget in the 1st quarter of 2020. It was noted that the first quarter’s revenues were paid mainly based on the results of the 4th quarter of 2019 and the turnover in January-February.

At the end of the meeting, the deputies of the Legislative Chamber of the Oliy Majlis approved the execution of the State Budget of the Republic of Uzbekistan and the State Targeted Funds for 2019 and the first quarter of 2020.

 

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