The implementation of the State budget of the Republic of Uzbekistan for the first half of 2023 reveals significant financial developments and allocations. During this period, the State budget saw revenues totaling UZS 102.3 trillion (over $8.4bn), marking a noteworthy increase of UZS 10.3 trillion ( around $848mn), equivalent to an 11.1% rise compared to the corresponding period in 2022. Conversely, State budget expenditures amounted to UZS 129.1 trillion (over $10.6bn), reflecting a substantial growth of UZS 26 trillion (over $2bn), equivalent to a remarkable 25.3% increase compared to the same period in the previous year.
A breakdown of the revenue sources indicates that 74.6% of the total revenues, equivalent to UZS 76.3 trillion (over $6.2bn), were generated by the Tax Committee. Furthermore, the Customs Committee contributed significantly, accounting for 23.8% of the revenues, which amounts to UZS 24.3 trillion (over $2bn). Additional sources, including other revenues and non-tax receipts, added UZS 1.7 trillion (around $140mn) to the budget. Notably, during this period, taxpayers received value-added tax refunds and cashback sums, totaling UZS 9.7 trillion ( over $798mn).
In terms of budgetary allocation, a substantial portion was dedicated to financing social expenditures. Specifically, UZS 64.4 trillion ( over $5.3bn), equivalent to 50% of the total expenses, were allocated from the State budget for this purpose. Within the realm of social expenditures, UZS 58.1 trillion ( over $4.7bn), constituting a significant 90.1%, were directed toward the social sphere and social support initiatives aimed at benefiting the population. Additionally, UZS 5.9 trillion (over $485mn), which represent 9.3% of the expenses, were allocated as extra-budgetary transfers to the Pension Fund. A smaller portion of UZS 362.6 bn (around $30mn), equivalent to 0.6% of the expenses, was allocated to financing housing programs.
These figures underscore the government's commitment to addressing social needs and ensuring the well-being of the population through substantial investments in social support programs and initiatives. The increase in revenues compared to the previous year demonstrates positive economic growth and financial stability in Uzbekistan during the first half of 2023.
Earlier Daryo reported that in the first half of 2023, Uzbekistan's state budget saw a notable 25% surge in expenditures compared to the corresponding period in 2022.
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