It was stated that Uzbekistan undertook measures to further improve monetary policy, gradual introduction of modern market mechanisms for currency regulation, increase export potential, sustainable development of modern, export-oriented industries, etc.

It was noted that modern mechanisms of interbudgetary relations and tax administration are being introduced, the information service of the Legislative Chamber of the Oliy Majlis of the Republic of Uzbekistan said.

One of the main objectives of the country’s budget policy is to ensure sustainable financing for integrated development of territories in order to increase real incomes, the level and quality of life of the population, reduce dependence on financing from the republican budget, and strengthen the independence of state authorities on the ground.

As a result, during the reporting period, additional revenue sources of local budgets were formed for 503.8 billion soums, or 3.9 times more than in the nine months of 2016.

In the reporting period, the social orientation of the state budget expenditures remained.About 54.8% of total expenditure was allocated to finance the social sphere.

The deputies emphasized that during the reporting period, priority was given to further deepening the reforms in the education system, improving educational standards and programs.

In particular, more than 11.5 trillion soums have been allocated from the State budget for financing expenses for maintenance and development of public education institutions or 59.5% of total social spending.

The budget issued 5.2 trillion soums to healthcare sector, which made up 26.9% of total social spending. In the same period in 2016, health care expenditure was 4.2 trillion soums or 24% of spending to social sector.

To provide the population with medicines and medical products, 275 billion soums were allocated from the State budget, which is 1.9 times more than in the same period last year.

About 125.7 billion soums have been allocated from the State budget to support the elderly and disabled for sanatoriums and boarding schools, boarding homes for young disabled people, social assistance at home, and rehabilitation centers for the disabled.

At the same time, the deputies criticized the lack of full mobilization of available opportunities and potential resources to expand sources of replenishment of local budgets, in particular, in 17 districts and cities of the republic, the forecasted indicators of the revenue part of local budgets have not been met.

MPs underlined facts of irrational spending of funds allocated to the emergency medical units.

MPs of the Legislative Chamber approved the report on execution of the State Budget and the budgets of state trust funds for the nine months of 2017.