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Uzbekistan has run a budget surplus of 0.1% of GDP in 2015

According to materials of the Ministry of Finance, Uzbekistan state budget surplus amounted to nearly 202.9 billion UZS or 0.1% of GDP on the basis of 2015.

As reported by the Ministry of Finance, state budget revenues for the last year amounted to 36.492 trillion UZS or 21.3% of GDP, spending - 36.29 trillion UZS or 21.2% of GDP.

Estimated national GDP growth is 7.8% in 2016. Estimated industrial production growth is 8.2% and agriculture growth is 6.1%. As for the amount of capital investment, its growth should make 9.6%.

Deficit of the state budget for 2016 is planned in the amount of one percent of GDP (according to the forecast) or, in monetary terms, 2.2 trillion UZS. Budget revenues will make up 18.4% of GDP (40.5 trillion UZS) and expenses - 19.4% of GDP (42.7 trillion UZS).

In accordance with the tax policy concept for 2016 reducing the tax burden on the economy is planned to the level of 19.1% versus 20.7% in the current year. For example, unified tax payment rate, which is paid by small businesses and micro firms operating in the service sector instead of a combination of taxes, will be reduced from 6 to 5%. This will allow these enterprises to leave funds in the amount of 58.4 billion UZS.

 

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