Tashkent, Uzbekistan (UzDaily.com) -- At the twenty-second plenary meeting of the Senate of the Oliy Majlis, the Law "On the State Budget of the Republic of Uzbekistan for 2022" was discussed.

It was noted that this law establishes the main macroeconomic indicators and forecasts of income and expenses of the consolidated State budget for 2022, as well as budget targets for 2023-2024.

The main attention was paid to the goals of ensuring macroeconomic stability, increasing the efficiency and effectiveness of state budget expenditures and implementing tax policy aimed at ensuring the competitiveness of the economy, stimulating investment attractiveness and business activity.

When developing the law, the principles of ensuring the social orientation of tax and budgetary policy for 2022-2026, the introduction of the “results-oriented budget” system and increasing the responsibility of the participants in the budgetary process were also strictly observed.

The law introduced significant changes to the tax policy. At the same time, it is planned to support and develop industries that have a significant share in the gross domestic product (GDP).

In particular, it is planned that in 2022 the country's GDP growth rate will be 6.0%, including in industry - 7.0%, in construction - 8.1%, in agriculture - 3.3%.

The maximum size of the deficit of the consolidated budget of the Republic of Uzbekistan for 2022 is set at 3% of GDP.

At the same time, it is envisaged to carry out additional expenses that may lead to exceeding the maximum size of the budget deficit, only if there is an additional source of income or by reducing other expenses. It is predicted that the downward trend in inflation will continue, and next year it will be around 9%.

The law establishes that the managers of the first-level budgetary funds have the right to direct up to 10% of the maximum allocations allocated from the republican budget on the basis of a resolution of the Cabinet of Ministers to subordinate organizations financed from the budget of the Republic of Karakalpakstan, local budgets of regions and the city of Tashkent.

In order to support the financing of socially significant national state programs, as well as projects for the formation of production and non-production infrastructure, the established amount of grant funds allocated from foreign sources to managers of budgetary funds of the first level shall be increased without amending this Law.

In 2022, consolidated budget revenues are projected at 254.6 trillion soums, or 30.3% of GDP. State budget revenues are determined at 199.5 trillion soums or 23.8% of GDP.

Revenues of state trust funds are planned at 31.9 trillion soums, expenses - 58.7 trillion soums.

In addition, it is envisaged to allocate funds from the State Budget to the social sphere, in particular, 46.9 trillion soums - for education expenditures, 22.8 trillion soums - for healthcare expenditures, 3.4 trillion soums - for cultural and sports expenditures, and 1.5 trillion soums - for the costs of measures for the further development of science.

The law introduces a procedure according to which the repair of the territories adjacent to the multi-apartment housing stock, and the overhaul of heating networks and boiler equipment of heat supply organizations that are part of the system of the Ministry of Housing and Communal Services of the Republic of Uzbekistan are financed from the republican budget of the Republic of Karakalpakstan, regional budgets of regions and the city budget. Tashkent.

In connection with the further expansion of the powers of local Kengashes in the formation of the budget, 5 percent of the approved expenditures of the respective budgets of all districts (cities) of the republic are directed to financing events formed on the basis of public opinion.

In addition, at least 30% of the additional funds from the budgets of all districts (cities) of the republic are directed to finance activities formed on the basis of public opinion.

In particular, the Law stipulates funds from the open budget, the "Civil Initiatives Fund" in the amount of 1 trillion 553 billion soums.

As the senators noted, it is necessary to strengthen parliamentary and public control over the fair and targeted use of the State budget funds.

This Law has been approved by the members of the Senate.