Uzbekistan’s State Budget Deficit Hits 37.3 Trillion UZS
Uzbekistan’s State Budget Reports Record Deficit for 2024
Uzbekistan’s state budget has revealed a deficit of 37.3 trillion UZS for the year up to September, with revenues amounting to 26.665 trillion UZS and expenditures reaching 27.136 trillion UZS. These figures mark the highest levels recorded for both revenue and expenditure in 2024.
Monthly reports from the Ministry of Economy and Finance have shown that total revenues for the first nine months of 2024 reached 186.3 trillion UZS, while total expenditures amounted to 223.7 trillion UZS, resulting in the accumulated deficit.
A detailed breakdown of the budget figures for 2024 indicates fluctuations in revenue and expenditure throughout the year. For instance, in May, revenues totaled 22.749 trillion UZS, while expenditures amounted to 26.565 trillion UZS, resulting in a deficit of 3.816 trillion UZS.
Looking forward, the state budget law for 2024 forecasts revenues of 270.4 trillion UZS and expenditures of 280.7 trillion UZS, projecting a planned consolidated budget deficit of 52.6 trillion UZS, equivalent to 4% of the GDP.
Furthermore, reports have confirmed that subsidies allocated for gas in 2024 were fully utilized in the first half of the year. This news comes as Uzbekistan grapples with the challenges of managing its finances amid economic uncertainties.
Overall, the state budget’s performance in 2024 highlights the need for careful monitoring and strategic planning to address the deficit and ensure sustainable economic growth in Uzbekistan.
