Uzbekistan ups state budget revenues

/By AzerNews/

By Laman Sadigova

Revenues of Uzbekistan’s state budget increased by 16.6 percent to 26.338 trillion soums compared with the corresponding period last year, the Uzbek Finance Ministry reported.

“In the total income, the State Tax Committee mobilized revenues in the amount of 19,523.9 billion soums, or 100.1 percent of the forecast,” the report reads.

Revenues from direct taxes in January-September increased by 18.7 percent compared to the same period in the last year - up to 6.388 trillion soums, which made up 24.3 percent of total revenues.

On indirect taxes, the state budget received 18.1 per cent more than a year ago - 13.946 trillion soums, or 52.9 percent. Revenues from the value added tax increased by 19.6 percent - up to 7.814 trillion soums, the excise tax - by 18.1 percent - up to 4.115 trillion soums.

Resource payments and property tax revenues in the budget provided 13.1 percent of all income, or 3.461 trillion soums (up 1.5 percent).

At the same time 15.395 trillion soums, or 58.7 percent of total expenditures are allocated to finance social spending from the state budget.

In general, the state budget revenues in January-September 2015 amounted to 22.4 percent of gross domestic product (GDP) while expenses - 22.3 percent of GDP.

The state budget of Uzbekistan for 2015 was approved by the parliament with a deficit of about 1.8 trillion soums, or one percent of GDP, with revenues of 36.2 trillion soums (20.2 percent of GDP) and expenditures of 38 trillion soums (21.2 percent of GDP).