Uzbek deputies approve 2020 Budget Bill in first reading

The country's GDP, in 2020 will amount to 653.5 trillion soums, the volume of revenues of the State Budget-128.5 trillion soums.

A regular session of the Legislative Chamber of the Oliy Majlis was held on November 14. The deputies discussed the bill "On the State Budget of the Republic of Uzbekistan for 2020" in the first reading.

Deputy Prime Minister of the Republic of Uzbekistan — Minister of Finance Jamshid Kuchkarov addressed the session. The gross domestic product in 2020 is expected to grow by 5.5 percent, while maintaining its positive dynamics in subsequent years. In particular, the volume of industrial production will increase by 6.5 percent, construction - by 9.3 percent, agriculture-by 4 percent, services-by 5.6 percent. Fixed capital investment will grow by 10 percent, exports and imports of goods and services-by 8 percent.

The bill, along with the implementation of a number of measures aimed at improving the efficiency of budget planning, the effectiveness of their implementation, as well as improving inter-budgetary relations, proposes the approval of budget planning for the medium term by adopting the State Budget for the projected year and budget directions for the next two years. 

The country's GDP, in 2020 will amount to 653.5 trillion soums, the volume of revenues of the State Budget-128.5 trillion soums.

State Budget expenditures will amount to 131.1 trillion soums.

UzReport.uz